Commercial Bank of Ceylon awarded AA+ rating by CRISL
FE Report | Monday, 4 August 2008
Commercial Bank of Ceylon (CBC) has been awarded with a rating of AA+ (Double A plus) for long term and ST-1 for short term.
Credit Rating Information and Services Ltd (CRISL) rated the CBC based on its 2007 Balance Sheet, said a press release.
The previous rating of AA held by CBC was enhanced to AA+ by CRISL based on its asset quality, capital adequacy, liquidity, diversification in product lines, IT infrastructure and corporate governance.
It may be mentioned that banks rated AA+ are of high credit quality with a sound credit profile, offering higher safety for long term while ST-1 represents the highest certainty on timely payment of liability in the short term, almost like risk free Government short term obligations.
CBC is viewed with stable outlook for its steady business growth, stable financial and operating performance, as well as consistent fundamentals.
Credit Rating Information and Services Ltd (CRISL) rated the CBC based on its 2007 Balance Sheet, said a press release.
The previous rating of AA held by CBC was enhanced to AA+ by CRISL based on its asset quality, capital adequacy, liquidity, diversification in product lines, IT infrastructure and corporate governance.
It may be mentioned that banks rated AA+ are of high credit quality with a sound credit profile, offering higher safety for long term while ST-1 represents the highest certainty on timely payment of liability in the short term, almost like risk free Government short term obligations.
CBC is viewed with stable outlook for its steady business growth, stable financial and operating performance, as well as consistent fundamentals.