Category: Companies

International ratings agency Standard & Poor’s has assigned a B+ sovereign rating for Sri Lanka, President Mahinda Rajapakse said Thursday. International ratings agency Standard & Poor’s has assigned a B+ sovereign rating for Sri Lanka, President Mahinda Rajapakse said Thursday. Rajapakse, in his capacity as Finance Minister, made this announcement during his budget speech to […]

Top international credit rating agencies have warned Sri Lanka to spruce up act on ‘peace, politics, and public finances’, ahead of a planned international bond issue to finance its war-damaged tsunami-hit economy. Top international credit rating agencies have warned Sri Lanka to spruce up act on ‘peace, politics, and public finances’, ahead of a planned […]

Sri Lanka Insurance Corp., retained its national ratings, but the firm needs to clean up its financial reporting and IT system, Fitch Ratings said Tuesday. Sri Lanka Insurance Corp., retained its national ratings, but the firm needs to clean up its financial reporting and IT system, Fitch Ratings said Tuesday. Giving a ‘stable’ rating outlook, […]

Sri Lanka’s Pan Asia Banking Corp (PABC) could loose its BB+(sri) rating, if it fails to beef up its capital, Fitch Ratings Lanka warned Thursday. Sri Lanka’s Pan Asia Banking Corp (PABC) could loose its BB+(sri) rating, if it fails to beef up its capital, Fitch Ratings Lanka warned Thursday. As at June 2005, PABC’s […]

Seylan Bank Asset Management Ltd.launched a web site becoming the first primary dealer to sell government securities online, last week. Seylan Bank Asset Management Ltd. launched a web site becoming the first primary dealer to sell government securities online, last week. Speaking at the launch Ceylinco Chairman Lalith Kotelawala requested the Central Bank for more […]

Triple A rated Dialog Telekom plans to drawdown part of its dollar credit facilities to rollout a Rs.25 billion expansion plan over the next two-years.Triple A rated Dialog Telekom plans to drawdown part of its dollar credit facilities to rollout a Rs. 25 billion expansion plan over the next two-years. Sri Lanka’s largest mobile phone […]

Singer (Sri Lanka) Ltd walked off with a A+(sri) rating from Fitch Ratings Lanka Limited for its upcoming debenture issue, the rating agency said Tuesday. Singer (Sri Lanka) Ltd walked off with a A+(sri) rating from Fitch Ratings Lanka Limited for its upcoming debenture issue, the rating agency said Tuesday. The rating outlook is stable. […]

Singer (Sri Lanka) Ltd is raising up to Rs. 400 million in debt through a private placement, the consumer goods retailer said Monday. Singer (Sri Lanka) Ltd is raising up to Rs. 400 million in debt through a private placement, the consumer goods retailer said Monday. The unlisted issue, which carries tenures of three and […]

People’s Leasing Company has raised Rs.400 million by securitising part of its small but growing hire purchase portfolio, the firm said Monday.People’s Leasing Company has raised Rs. 400 million by securitising part of its small but growing hire purchase portfolio, the firm said Monday. Hire purchasing accounts for Rs 3 billion of the firm’s business […]

Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday.Sri Lanka’s Commercial Bank’s upcoming billion rupee debenture issue secured an AA (sri) rating from Fitch Ratings Lanka, the agency said Wednesday. The bank initially plans to raise Rs.1.0 billion with an option to […]

Ceylinco Developers Ltd, promoters of the Millennium City township development project, is raising Rs. 100 million in debt to meet its ongoing expansion plans. Ceylinco Developers Ltd, promoters of the Millennium City township development project, is raising Rs. 100 million in debt to meet its ongoing expansion plans. The unsecured, unquoted subordinated three-year issue comes […]

Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term credit expansion, officials said Tuesday. Sri Lanka’s Commercial Bank of Ceylon is privately raising up to Rs. 1.5 billion through a five-year unsecured subordinated debenture to feed its medium term […]