Fitch affirms BoC at ‘CC’ and ‘A(lka)’/Stable

Fitch Ratings has affirmed Bank of Ceylon’s (BOC) Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘CC’.

The rating does not carry an Outlook because of the potential for high volatility at this rating level, in line with Fitch’s rating definitions.

At the same time, Fitch has maintained BOC’s Viability Rating (VR) of ‘cc’ on Rating Watch Negative (RWN).

Fitch has also affirmed BOC’s Long-Term Local-Currency IDR at ‘CCC-’ with a Stable Outlook, the Short-Term IDR at ‘C’, Government Support Rating at ‘ns’ and the National Long-Term Rating at ‘A(lka)’ with a Stable Outlook.