Fitch Assigns BOC’s USD Senior Notes Final ‘BB-’ Rating
Fitch Ratings has assigned Bank of Ceylon’s US$ 500 million senior unsecured notes due 2017 a final rating of ‘BB-’.
Fitch says, this follows the completion of the notes issue and the receipt of documents conforming to information previously received.
The agency also notes that the final rating is the same as the expected rating assigned on 17 April 2012.
The Rating firm points out that the notes are rated at the same level as BOC’s ‘BB-’ Long-Term Foreign-Currency Issuer Default Rating.
“The notes carry an interest rate of 6.875% per annum” adds Fitch.