Citizens Development Business Finance outlook revised to Stable from Negative by ICRA | Daily News

Citizens Development Business Finance outlook revised to Stable from Negative by ICRA

ICRA Lanka Limited has reaffirmed the issuer rating of Citizens Development Business Finance PLC (CDB or the Company) at [SL]BBB+ (pronounced SL triple B plus). ICRA Lanka has also reaffirmed the issue ratings of [SL]BBB (pronounced SL triple B) for the LKR 2,000 Mn, LKR 1,075 Mn and LKR 928 Mn subordinated, unsecured, listed, redeemable debentures programmes of the Company. The outlook on all the ratings have been revised to Stable from Negative.

The issue rating of [SL]A-(SO) (pronounced SL A minus structured obligation) with Stable outlook for the LKR 1,000 Mn subordinated guaranteed listed redeemable debentures of the Company, guaranteed by Seylan Bank PLC (Seylan) has been withdrawn as the said debentures have matured and there is no amount outstanding against the rated instrument.

The issue rating of [SL]A-(SO) (pronounced SL A minus structured obligation) with Negative outlook for the LKR 628 Mn Trust Certificates Programme of Citizens Development Business Finance PLC – Securitization 03 was withdrawn, as the same had matured and there is no amount outstanding against the rated instrument.


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