(Repeat for additional subscribers)
Dec 10 (The following statement was released by the rating agency)
Fitch Ratings has assigned Sri
Lanka-based National Savings Bank's (NSB) USD-denominated notes due 2018 a final
rating of 'BB-'. This follows the receipt of the final documents conforming to
information previously received.
The final rating is at the same level as the expected rating assigned on 23
August 2013. The notes have a maturity of five years and coupon payments will be
at 8.875% on a semi-annual basis.
Key Rating Drivers
The notes are rated at the same level as NSB's Long-Term Foreign-Currency Issuer
Default Rating (IDR) of 'BB-' as they constitute unsecured and unsubordinated
obligations of the bank.
Any change in Sri Lanka's rating or to the perception of state support to NSB
could result in a change in NSB's IDRs and hence the rating of the notes.