Sri Lanka Fitch rates Sampath Leasing bonds at ‘A(lka)’

June 08, 2012 (LBO) – Sri Lanka’s Fitch Ratings has given an ‘A(lka)’ rating to a planned 500 million rupee, senior unsecured debenture to be sold by Sampath Leasing and Factoring Ltd, with a positive outlook. The bond will pay a semi-annual fixed rate interest and will be repaid in the third and fourth year in equal bullet repayments.

Sampath Leasing also has a national long term rating of ‘A(lka)’ with a positive outlook.

The rating reflects assumed support from its parent, Sampath Bank Plc, which has a ‘AA-(lka)’ rating with a positive outlook and the strong strategic and operational links between the two firms, Fitch said. .