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Moody's assigns counterparty risk ratings to 3 Sri Lankan banks

Moody's on June 18 assigned counterparty risk ratings to three Sri Lankan banks.

The rating agency assigned Ba3/NP long- and short-term local- and foreign-currency counterparty risk ratings to Bank of Ceylon, Hatton National Bank Plc and Sampath Bank PLC.

The ratings reflect the rating agency's opinion of the banks' abilities to honor the uncollateralized portion of nondebt counterparty financial liabilities and expected financial losses if the liabilities are not honored.

Moody's said the counterparty risk ratings assigned to the banks are in line with the counterparty risk assessments already assigned to them.