Commercial Bank of Ceylon (CBC) is awarded with a rating of AA+ (Double A plus) for second consecutive year for long-term and ST-1 for short-term, based on its 2008 Balance Sheet by Credit Rating Information and Services Ltd (CRISL), said a press release.

The rating of AA+ by CRISL based on its asset quality, capital adequacy, liquidity, diversification in product lines, IT infrastructure and corporate governance.

It may be mentioned that banks rated AA+ are of high credit quality with a sound credit profile, offering higher safety for long-term while ST-1 represents the highest certainty on timely payment of liability in the short term, almost like risk free government short-term obligations.

CBC is viewed with stable outlook for its steady business growth, stable financial and operating performance, as well as consistent fundamentals.