Fithch Ratings Lanka Ltd has upgraded Hatton National Bank's national long-term rating to "AA-(lka)" from "A+(lka)". At the same time, the agency has also upgraded the national rating of Hatton National Bank's subordinated debentures to "A+(lka)" from "A(lka)".
The outlook on the ratings is stable. "AA-(lka)" national ratings denote a very strong credit risk relative to other issuers or issues in the same country. The credit risk inherent in these financial commitments differs only slightly from the country's highest rated issuers or issues. Fitch Ratings Lanka Limited's rating action reflects recognition of Hatton National Bank's improving profitability and capital formation, supported by better asset quality.-PR