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RAM assigns ratings of AA+/P1 to Commercial Bank

Aug 22, 2011 2:54:13 AM - www.ft.lk

RAM Ratings Lanka said today it has assigned the respective long- and short-term financial institution ratings of AA+ and P1 to Commercial Bank of Ceylon PLC (“COMB” or “the Group”); the outlook on the long-term rating is stable.

The ratings are premised on the strong market position of the Group, being the largest private licensed commercial bank (“LCB”) and the third largest LCB in the country in terms of assets.

The ratings also reflect its strong franchise; healthy financial performance, funding, liquidity and capitalisation levels, as well as its adequate asset quality.

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