Sri Lanka, Nov. 2 -- The Bank of Ceylon (BOC), Sri Lanka's largest banking institution, has secured a two-notch upgrade in its National Long-Term Rating from Fitch Ratings, moving to 'AA+(lka)' from 'AA-(lka)', with a Stable Outlook.

The upgrade reflects the Bank's strong market position, financial resilience and leading presence in the domestic banking sector, supported by its extensive branch network, broad customer base and robust deposit base.

The rating action follows Fitch's revision of Sri Lanka's Long-Term Local-Currency Issuer Default Rating to 'B-/stable' from 'CCC+' on September 22, 2026, and the subsequent recalibration of the country's national rating scale. Fitch also upgraded BOC's operating environment assessment to 'b-'...