Category: Companies

Apr. 27 (LBO) – International rating agencies Fitch and Standard & Poor’s Thursday cut Sri Lanka’s credit outlook to negative from stable, reflecting the island’s worsening security situation. Should the violence become more widespread, adversely affecting the economy, public finances and donor inflows, Sri Lanka’s sovereign ratings could be downgraded, both agencies said. – Mel […]

Apr.25 (LBO) – Fitch Ratings Lanka Tuesday announced changes to their national ratings scale for Sri Lanka to be line with the agency’s global definitions. National ratings are designed for use of investors in local markets, and also give an indication as to the creditworthiness for rated entities in the country. The best risk within […]

Apr.06 (LBO) – Fitch Ratings Lanka has upgraded Sampath Bank long term domestic rating to AA- (sri) on an improving financial profile.“Concerted recovery efforts and improved credit risk management have resulted in a steady improvement in the bank’s asset quality and solvency position,” Fitch said. “The bank has halved its gross NPLs (non-performing loan) ratio […]

Mar. 31 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is raising up to Rs3.0 billion in long term funds next month through a combination of private and public placement of debentures, an official said Friday. Fitch Ratings Lanka Friday gave the issue a rating of ‘AA (sri)’ and a stable outlook, for the unsecured […]

Mar. 30 (LBO) – Sri Lanka’s Hatton National Bank’s Rs1.22 billion debenture issue, which closes Friday has been privately placed mostly among institutions, with longer tenures running up to 18 years being snapped up by insurance firms, an official said. Fitch Ratings Lanka Thursday assigned a rating of A- (sri) and a stable outlook, for […]

Mar. 22 (LBO) – Sri Lanka’s state-run People’s Bank got its credit rating upgraded to A-(sri) by Fitch Ratings Lanka Ltd, who also revised the bank’s rating outlook to ‘positive’.An A-(sri) long term rating reflects low expectation of credit risk, but the bank is still vulnerable to changes in circumstances or in economic conditions than […]

Jan.20 (LBO) — Sri Lanka’s DFCC Bank retained its AA (sri) rating from Fitch Ratings Lanka Limited, for its senior unsecured long-term debt, the rating agency said Friday. Jan.20 (LBO) — Sri Lanka’s DFCC Bank retained its AA (sri) rating from Fitch Ratings Lanka Limited, for its senior unsecured long-term debt, the rating agency said […]

Sri Lanka’s State Mortgage & Investment Bank (SMIB) was downgraded by Fitch Ratings Lanka to A (sri) on deteriorating asset quality, and its inability to maintain market share, Fitch said Thursday. Sri Lanka’s State Mortgage & Investment Bank (SMIB) was downgraded by Fitch Ratings Lanka to A (sri) on deteriorating asset quality, and its inability […]

Sri Lanka’s Ceylinco Leasing Corp plans to raise a billion rupees in debt and issue shares to the public later this year, officials said Wednesday.Sri Lanka’s Ceylinco Leasing Corp plans to raise a billion rupees in debt and issue shares to the public later this year, officials said Wednesday. An initial public offering is on […]

Sri Lanka’s Senkadagala Finance has become the first entity to go for a dual credit rating, when it was rated A3 by Lanka Rating Agency recently. Sri Lanka’s Senkadagala Finance has become the first entity to go for a dual credit rating, when it was rated A3 by Lanka Rating Agency recently. Tech savvy Senkadagala, […]

Sri Lanka’s maiden sovereign rating has helped upgrade the island’s dominant telco, Sri Lanka Telecom, two international credit rating agencies said Wednesday. Sri Lanka’s maiden sovereign rating has helped upgrade the island’s dominant telco, Sri Lanka Telecom, two international credit rating agencies said Wednesday. New York based Standard & Poor’s Ratings Services revised its outlook […]

Sri Lanka on Thursday secured its first sovereign rating of BB- from Fitch Ratings International but the rating agency warned that ‘peace and politics’ will hold the key to the island future. Sri Lanka on Thursday secured its first sovereign rating of BB- from Fitch Ratings International but the rating agency warned that ‘peace and […]