Commercial Bank plans to tap the market for Rs. 4 bn with the backing of an issue rating from Fitch.
The bank already has an AA+ rating for its senior debt.rn
rnCommercial Bank says the issue rating which could be a notch lower than its senior debt rating will be made public.rn
rnldblquote Whatever the rating, we will publish. So there will be absolute transparency, dblquote says Ranjith Samaranayke of Commercial Bankrn
rnCommercial Bank also announced sharply higher earnings for last year but warned that the bottom line could stagnate this year. rn
rnThe bank notched up a Rs. 1.3 bn post tax profit for 2002 on the back of low interest rates and improved trade finance.rn