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Fitch Ratings Lanka last week announced that it had withdrawn Sri Lanka-based Pradeshiya Sanwardhana Bank’s (PSB) National Long-Term Rating of ‘BBB+(lka)’ with Stable Outlook.

A statement by Fitch Ratings Lanka said that it was withdrawing the rating since PSB had chosen to stop participating in the rating process.

“Therefore, Fitch will no longer have sufficient information to maintain the rating. Accordingly, Fitch will no longer provide ratings or analytical coverage for PSB,” it said.