Fitch Ratings has placed an A(EXP) (lka) national long-term rating on DFCC Bank's proposed 3 billion Sri Lankan rupee senior unsecured listed blue bonds, according to a Friday release.

The blue bonds' rating is equivalent to the bank's national long-term rating as they serve as its direct, unconditional, unsubordinated, and unsecured obligations.

The bonds also rank equally with the bank's unsecured and unsubordinated obligations, Fitch said.

Changes in the bank's rating would lead to similar actions on the bonds, according to the rating agency.

The blue bonds are the first of its kind issued in Sri Lanka, with proceeds to support qualified blue projects for the sustainable use of marine and coastal resources as well as coastal communities' resilience to climate risks.