ECONOMYNEXT – Fitch Ratings has given an expected National Long-Term Rating of ‘AA-(EXP)(lka)’ to Hatton National Bank’s planned Sri Lankan rupee-denominated sustainable bond issue to raise 10 billion.
“The bonds are rated at the same level as HNB’s National Long-Term Rating as they constitute a direct, unconditional, unsubordinated and unsecured obligation of the bank,” the ratings agency said.
The full statement is reproduced below:
Fitch Assigns Hatton National Bank’s Proposed Senior Sustainable Debt ‘AA-(EXP)(lka)’
Fitch Ratings – Colombo – 21 Oct 2025: Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, AA-(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured listed sustainable bonds of up to LKR10 billion an expected National Long-Term Rating of ‘AA-(EXP)(lka)’.
The bonds will mature in five or seven years and the proceeds from the issuance will be used to expand the bank’s sustainability lending portfolio.
The final rating is subject to the receipt of final documentation conforming to information already received.
Key Rating Drivers
The bonds are rated at the same level as HNB’s National Long-Term Rating as they constitute a direct, unconditional, unsubordinated and unsecured obligation of the bank, and will rank pari passu with all of its present and future unsecured and unsubordinated obligations.
Fitch reviewed HNB’s ratings with no rating action on 8 September 2025. Please refer to the latest rating action commentary – Fitch Upgrades 10 Sri Lankan Banks’ National Ratings and Affirms Five after Scale Recalibration – published on 21 January 2025 for the key rating drivers and sensitivities.
Rating Sensitivities
Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade
A downgrade of the bank’s National Long-Term Rating would lead to a downgrade of the expected rating.
Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade
An upgrade of the bank’s National Long-Term Rating would lead to an upgrade of the expected rating.
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
(Colombo/Oct22/2025)
Continue Reading