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Fitch Ratings-London/Colombo-24 September 2012: Fitch Ratings has assigned the Ceylon Income Fund a ‘A-(lka)’ National Fund Credit Rating. This is the first fund rating assigned by an international rating agency in Sri Lanka. The fund primarily invests in corporate debt instruments and is managed by Ceylon Asset Management (CAM). KEY RATING DRIVERS: The ‘A-(lka)’ National [...]
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Fitch Ratings-Colombo/Seoul/Singapore-21 September 2012: Fitch Ratings Lanka has assigned People’s Leasing Company PLC’s (PLC, ‘AA-(lka)’/Stable) proposed commercial paper issue of up to LKR500m a National Short-Term ‘F1+(lka)’ rating. A full list of PLC’s ratings is provided at the end of this commentary. The proposed notes will have a tenor of one year, and will be [...]
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Fitch Ratings-Colombo/Seoul/Singapore-19 September 2012: Fitch Ratings Lanka has affirmed Seylan Bank PLC’s (Seylan) National Long-Term rating at ‘A-(lka)’. The Outlook is Stable. A full list of the bank’s ratings is provided at the end of this commentary. Seylan’s rating reflects Fitch’s expectations of support from the State of Sri Lanka if required, given the bank’s [...]
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National Ratings by Fitch Ratings (Lanka) Ltd. As at 3 Sep 2012
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Rating Outlook Strong Credit Growth: Fitch Ratings expects the earnings of Sri Lankan banks to continue to benefit from strong lending prospects in the post-civil war period (since 2009). Real GDP is forecast by the agency to increase by 8% per annum in 2012, driving strong credit demand. Licensed commercial banks, accounting for about 45% [...]
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Fitch Ratings-Colombo/Singapore-06 October 2011: Fitch Ratings Lanka has affirmed Sri Lanka based telecom operator Dialog Axiata PLC’s (Dialog) National Long-Term rating at ‘AAA(lka)’. The Outlook is Stable. At the same time Fitch has affirmed Dialog’s cumulative redeemable preference shares at ‘AA+(lka)’. Dialog’s ratings incorporate support from its 83% shareholder Axiata Group Berhad (Axiata), underpinned by [...]
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Fitch Ratings-Colombo/Singapore-22 September 2011: Fitch Ratings has upgraded Seylan Bank PLC’s National Long-Term rating to ‘A-(lka)’ from ‘BBB+(lka)’. The Outlook is Stable. A full list of rating actions is provided at the end of this commentary. The upgrade is driven by the Government of Sri Lanka’s improved ability to provide support to Seylan if required, [...]
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Fitch Ratings-Colombo/Singapore-19 September 2011: Fitch Ratings Lanka has assigned Senkadagala Finance PLC’s (SFC) proposed senior unsecured redeemable debentures of up to LKR300m a ‘BBB+(lka)’ rating. Simultaneously, the agency has affirmed and withdrawn the ‘BBB+(lka)’ rating on SFC’s proposed listed debenture issuance of LKR1bn (scheduled to take place in March 2011) due to its non-issuance. The [...]
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Fitch Ratings-Colombo/Singapore-29 August 2011: Fitch Ratings Lanka has affirmed Sampath Bank PLC’s (SB) National Long-Term rating at ‘AA-(lka)’. The Outlook remains Positive. A full list of rating actions is provided at the end of this commentary. The affirmation reflects SB’s strong asset quality and profitability, its comfortable equity buffer maintained against future loan losses, as [...]
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Fitch Ratings-Colombo/Singapore-19 August 2011: Fitch Ratings Lanka has assigned Hatton National Bank PLC’s (HNB) proposed subordinated debentures of up to LKR2.0bn a National Long-Term rating of ‘A+(lka)’. A full list of HNB’s ratings is provided at the end of this commentary. The issue is rated one notch below HNB’s National Long-Term rating reflecting its debt-like [...]
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Fitch Ratings-Colombo/Singapore-18 August 2011: Fitch Ratings has affirmed Sri Lanka’s John Keells Holdings PLC’s (JKH) National Long-Term rating at ‘AAA(lka)’. The Outlook is Stable. The affirmation reflects JKH’s resilience of dividend inflows to, and resultant low financial leverage (net debt/EBITDA excluding non-recurring items) at the holding company (HoldCo). This is in turn driven by the [...]
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Fitch Ratings-Colombo/Singapore-16 August 2011: Fitch Ratings Lanka has assigned Pan Asia Banking Corporation PLC’s (PABC) proposed subordinated debentures of up to LKR2.0bn a National Long- Term rating of ‘BBB-(lka)’. A full list of PABC’s ratings is provided at the end of this commentary. The issue is rated one notch below PABC’s National Long-Term rating reflecting [...]
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