Good Omen

Sri Lanka Telecom’s maiden international debt issue took another step, when the telco giant picked up two foreign currency ratings for it debenture issue. Sri Lanka Telecom’s maiden international debt issue took another step, when the telco giant picked up two foreign currency ratings for it debenture issue. The dominant carrier waltzed off with a B+ rating for its foreign currency from Fitch Ratings and Standard & Poor’s, to become the first Sri Lankan entity to be internationally rated. Both ratings have stable outlooks.

The local currency rating exceeds the foreign currency by two notches as the local currency rating ignores currency convertibility risk.

The twin ratings enable SLT to sell its dollar bond issue and propelling it to be the first Sri Lankan company to tap the international debt market.

Rating
Jargon

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