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Fitch assigns Union Bank’s proposed debt ‘BB(lka)’ rating
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Fitch assigns Union Bank’s proposed debt ‘BB(lka)’ rating
ECONOMYNEXT – Fitch Ratings has assigned Union Bank of Colombo’s proposed Basel III-compliant subordinated debt of up to 3 billion rupees a final National Long-Term Rating of ‘BB(lka)’. “UB’s National Long-Term Rating is used as the anchor rating for the instrument, because the rating reflects the bank’s standalone financial strength and best indicates the risk of the bank becoming non-viable,” Fitch Ratings said. The full statement is reproduce…
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