Retail Strength

Jan 23, 2012 (LBO) – Fitch Ratings Lanka has assigned Abans (Private) Limited’s proposed senior unsecured debenture issue of up to 500 million rupees a national long-term rating of ‘A-(lka)’. The debenture will rank equally with other senior debt of Abans, a statement from the rating agency said.

“The rating reflects Abans’ strong market position as one of Sri Lanka’s largest retailers of consumer durables, supported by its brand, and its extensive retail and distribution network,” it said.

“The rating is constrained by the company’s evolving corporate governance profile.”

The full rating report follows:

Fitch Ratings Lanka has assigned Abans (Private) Limited’s (Abans) proposed senior unsecured debenture issue of up to LKR500m a National Long-Term rating of ‘A-(lka)’. The debenture will rank pari passu with other senior debt of Abans.

The rating reflects Abans’ strong market position as one of Sri Lanka’s largest retailers of consumer durables, supported by its brand, and its extensive retail and distribution network.

The rating is constrained by the company’s evolving corporate governance profile. The debenture is expected to be issued at a fixed coupon rate w