Bad Line

From left: Dr. Fernando Im, Senior Country Economist for Sri Lanka and the Maldives, The World Bank, Hon. Eran Wickramaratne, State Minister, Ministry of Finance and Mass Media, Dr. W A Wijewardana, Former Deputy Governor of the Central Bank of Sri Lanka, Prof. Indralal de Silva, Former (Chair) of Demography, University of Colombo, Prof. Amala de Silva, Department of Economics, University of Colombo at the panel discussion on "Demographic Change in Sri Lanka" moderated by Dr. Ramani Gunatilaka, International Centre for Ethnic Studies.

Sri Lanka Telecoms rating outlook was revised to negative by Fitch Ratings, as liberalization poses many uncertainties for the telecom giant.
Fitch says future debt obligations, falling revenues and capital expectative on network expansion could strain its cash flows.rn

rnHowever, Fitch affirmed SLTs SL AA+ rating for its listed unsecured redeemable debenture maturing in 2005. rn

rnSL AA+ long term rating denotes a very low expectation of credit risk. It indicates very strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.rn

rnThe rating agency says that the immediate past saw SLTs credit profile strengthened by increased EBITDA, declining debt levels and strong liquidity position. rn

rnThe recent liberalisation of the international voice market could however negatively impact SLTs credit profile in the short to medium term, says Fitch a statement issued on Friday. rn

rnldblquote During the 1Q FY 2003, one month into