ICRA Lanka assigns [SL]BBB rating with stable outlook to Commercial Credit and Finance PLC
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ICRA Lanka assigns [SL]BBB rating with stable outlook to Commercial Credit and Finance PLC

ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service has assigned the Issuer rating of [SL]BBB (pronounced SL triple B) with a stable outlook to Commercial Credit and Finance PLC (CCF or the Company). The rating factors in CCF’s established business presence in Sri Lanka, its experienced […]

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ICRA Lanka assigns [SL] A  with Stable outlook to Access Engineering PLC
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ICRA Lanka assigns [SL] A+ with Stable outlook to Access Engineering PLC

ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service has assigned an Issuer rating of [SL]A+ (pronounced S L A plus1) for Access Engineering PLC (“AEL”/ “the Company”). The outlook on the long-term rating is stable. While assigning the rating, ICRA Lanka has taken a consolidated view […]

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Fitch Rates People
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Fitch Rates People’s Leasing’s Senior Debt ‘AA-(lka)(EXP)’

Fitch Ratings-Colombo-15 July 2015: Fitch Ratings Lanka has assigned People’s Leasing & Finance PLC’s (PLC, B+/AA-(lka)/Stable) proposed senior unsecured debentures of up to LKR6bn an expected National Long-Term rating of ‘AA-(lka)(EXP)’. The final rating is contingent on the receipt of the final documents conforming to information already received. The issue is expected to have tenors of four and […]

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Fitch Affirms Nine Sri Lankan Banks; Downgrades Sampath Bank
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Fitch Affirms Nine Sri Lankan Banks; Downgrades Sampath Bank

Fitch Ratings-Colombo-08 July 2015: Fitch Ratings has affirmed the ratings on nine of Sri Lanka’s banks. The Long-Term Issuer Default Ratings (IDRs) on National Savings Bank and Bank of Ceylon (BOC) have been affirmed at ‘BB-‘ and their National Long-Term Ratings have been affirmed at ‘AAA(lka)’ and ‘AA+(lka)’, respectively. Fitch has also affirmed the National […]

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Central Bank may re- examine finance company ratings by LRA
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Central Bank may re- examine finance company ratings by LRA

The Central Bank (CB) is considering re-examining all the ratings done on finance companies by crisis-hit Lanka Ratings Agency (LRA), following the latter’s rating suspension by the Securities and Exchange Commission (SEC) and its withdrawal of the EAP Broadcasting Company Ltd rating, CB sources said. “Over 30 finance companies were rated by LRA out of […]

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Fitch Rates Pan Asia Banking
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Fitch Rates Pan Asia Banking’s Proposed Senior Debt ‘BBB(lka)(EXP)’

Fitch Ratings-Colombo/Hong Kong-17 June 2015: Fitch Ratings has today assigned Pan Asia Banking Corporation Plc’s (PABC; BBB(lka)/Negative) proposed listed senior unsecured debentures of up to LKR4.0bn a National Long-Term rating of ‘BBB(lka)(EXP)’. The proposed issuance is likely to have tenors of three and four years, with a combination of fixed-rate and floating-rate coupons. PABC expects […]

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ICRA Lanka assigns “[SL]A-” rating for the proposed debenture programme of Commercial Leasing and Finance PLC
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ICRA Lanka assigns “[SL]A-” rating for the proposed debenture programme of Commercial Leasing and Finance PLC

ICRA Lanka assigns “[SL]A-” rating for the proposed Senior unsecured redeemable debenture programme of Commercial Leasing and Finance PLC ICRA Lanka Limited, a wholly owned subsidiary of ICRA Ltd, a group company of Moody’s Investors Service, has assigned the [SL]A- (pronounced S L A minus) rating with a stable outlook for the proposed senior unsecured […]

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Fitch Rates NDB
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Fitch Rates NDB’s Subordinated Debentures Final ‘A+(lka)’

Fitch Ratings-Colombo-01 June 2015: Fitch Ratings Lanka has assigned National Development Bank PLC‘s (NDB; AA-(lka)/Stable) proposed subordinated debentures of up to LKR10bn a final National Long-Term Rating of ‘A+(lka)’. The final ratings are the same as the expected ratings assigned on 21 May 2015, following the receipt of documents conforming to information already received. The […]

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Fitch Rates Singer Finance
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Fitch Rates Singer Finance’s Senior Debt Final ‘BBB(lka)’

Fitch Ratings-Colombo/Hong Kong-26 May 2015: Fitch Ratings has today assigned Sri Lanka- based Singer Finance (Lanka) PLC’s (SFL; BBB(lka)/Stable) senior secured debt a final National Long-Term Rating of ‘BBB(lka)’. The final rating is at the same level as the expected rating assigned on 18 February 2015. On 21 May 2015, SFL signed the trust deed […]

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Fitch Affirms Singer (Sri Lanka) at
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Fitch Affirms Singer (Sri Lanka) at ‘A-(lka)’; Outlook Stable

Fitch Ratings-Colombo/Sydney-29 May 2015: Fitch Ratings has affirmed Singer (Sri Lanka) PLC’s (Singer) National Long-Term Rating at ‘A-(lka). The Outlook is Stable. A full list of rating actions is at the end of this commentary. Singer’s rating reflects its strong share in the market for retail of consumer durables in Sri Lanka, where Singer and […]

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Fitch Revises Pan Asia Banking
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Fitch Revises Pan Asia Banking’s Outlook to Negative; Affirms at ‘BBB(lka)’

Fitch Ratings-Colombo/Hong Kong-22 May 2015: Fitch Ratings Lanka has revised Sri Lanka-based Pan Asia Banking Corporation PLC’s (PABC) Outlook to Negative from Stable. The agency has affirmed PABC’s National Long-Term Rating at ‘BBB(lka)’ and the rating on PABC’s outstanding subordinated debentures at ‘BBB-(lka)’. The Negative Outlook reflects the continued deterioration in PABC’s capitalisation amid aggressive […]

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Fitch Affirms Sanasa Development Bank at
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Fitch Affirms Sanasa Development Bank at ‘BB+(lka)’/Stable

Fitch Ratings-Colombo/Hong Kong-21 May 2015: Fitch Ratings Lanka has affirmed Sanasa Development Bank PLC’s (SDB) National Long-Term Rating at ‘BB+(lka)’. The Outlook is Stable. KEY RATING DRIVERS The rating captures SDB’s high exposure to the retail and lower-end SME segments, its weak asset quality, and pressure on capitalisation due to strong loan growth. The rating […]

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Fitch Rates NDB’s Subordinated Debentures ‘A+(lka)(EXP)’

Fitch Ratings-Colombo/Hong Kong-21 May 2015: Fitch Ratings Lanka has assigned National Development Bank PLC’s (NDB; AA-(lka)/Stable) proposed subordinated debentures of up to LKR10bn an expected National Long-Term Rating of ‘A+(lka)(EXP)’. At the same time Fitch has withdrawn the expected rating of ‘AA-(lka)(EXP)’ assigned to NDB’s proposed senior debentures. The proposed subordinated debentures, which will have a tenor of five […]

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Fitch Rates Central Finance’s Senior Debt Final ‘A+(lka)’

Fitch Ratings-Colombo/Taipei-15 May 2015: Fitch Ratings has assigned Central Finance Company Plc’s (CF; A+(lka)/Stable) issue of senior secured redeemable debentures of up to LKR3.0bn a final National Long-Term Rating of ‘A+(lka)’ The final rating is the same as the expected rating assigned on 8 April 2015, and follows the receipt of documents conforming to information […]

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Fitch Assigns Singer’s Notes ‘A-(lka)’ Final Rating

Fitch Ratings-Colombo/Sydney-13 May 2015: Fitch Ratings has assigned Singer (Sri Lanka) PLC’s (Singer; A(lka)/Stable) unsecured redeemable debenture issue of up to LKR3bn a final National Long-Term Rating of ‘A-(lka)’. The final rating is the same as the expected rating assigned on 20 April 2015, and follows the receipt of documents conforming to information already received. […]

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