ECONOMYNEXT – Fitch Ratings has given National Development Bank’s proposed 16 billion Sri Lanka rupees green, social and sustainable bonds an expected ‘BBB+(EXP)(lka)’ rating. “This reflects Fitch’s baseline notching for loss severity for this type of debt and our expectations of poor recoveries,” Fitch Ratings said. The bonds include a non-viability clause whereby they will convert to ordinary voting shares subject to the occurrence of a trigger event. The proposed bonds will mature in five years and will be listed on the Colombo Stock Exchange. The Fitch Ratings statement is reproduced below: Fitch Rates National Development Bank’s Green, Social and…
Sri Lanka NDB’s green bonds get Fitch ‘BBB+(EXP)(lka)’ rating
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