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

Chief Regulatory Officer at CSE Renuke Wijayawardhane presenting the listing certificate to Executive Chairperson at Renuka Hotels Shibani Thambiayah

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. .