300 mn unsecured redeemable debenture programme commencing 2002-5.
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rnLast Wednesday, Singer said it was raising Rs. 300 mn via a three-year debenture to retire high costs of short-term debt.
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rnSL A rating denotes a low expectation of credit risk. The capacity for timely payment of financial commitments is considered strong.
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rnldblquote This capacity may, nevertheless, be more vulnerable to changes in circumstances or in economic conditions than is the case for higher ratings, dblquote Fitch said in a release Tuesday.rn
rnThe rating is based on Singer quote s leading market position in its key product lines (i.e. sewing machines, refrigerators and televisions), strong islandwide distribution network and its ability to provide in-house customer financing facilities maintaining low arrearage levels. rn
rnThe rating also benefits from monthly cash flows of Rs. 300 to Rs. 400mn.rnSinger Sri Lanka quote s parent company, which emerged from Chapter 11 p