Category: Companies

Apr 02, 2012 (LBO) – Sri Lanka’s Hatton National Bank has been given a ‘B1’ foreign currency rating, based on its own balance sheet and possible state support, Moody’s Investors Service said. The rating has a stable outlook. The rating agency said HNB had maintained “above-average capitalization Levels” compared with similarly rated bank banks in […]

Mar 19, 2012 (LBO) – Sri Lanka’s Sampath Bank said it was planning to raise as much as 2. 5 billion rupees from the sale of debentures which will be quoted on the Colombo Stock Exchange. The bank said in stock exchange filing that it wanted to sell 15 million debentures of 100 rupees each. […]

Mar 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said it is planning to raise at least a billion rupees through sale of listed debt, but may sell more debt if the demand is higher. Commercial Bank said in a stock exchange filing that wanted to sell at least 500,000 redeemable debentures of […]

Mar 05, 2012 (LBO) – RAM Ratings Lanka said it had given a ‘BBB-‘ rating with a stable outlook to a 500 million rupee senior redeemable debenture debenture to be sold by Softlogic Finance Plc. “The ratings are supported by SLF’s adequate asset quality, financial performance, capitalisation and liquidity, but tempered by its moderate funding […]

Feb 29, 2012 (LBO) – Fitch Ratings Lanka has lowered Lanka Orix Leasing Company’s rating from ‘A-(lka)’ to ‘BBB+(lka)’ with a negative outlook with a similar cut in outstanding senior unsecured debentures. The rating is still in the investment grade. Fitch said the downgrade came from a “higher appetite for market risks” at the holding […]

Feb 29, 2012 (LBO) – Sri Lanka’s Fitch Ratings has cut the outlook on Sri Lanka’s Commercial Leasing and Finance (CLC) to ‘negative’ from ‘stable’ but confirmed its underlying rating at ‘A-(lka)’. Fitch said CLC could be relied upon for support from its parent Lanka Orix Leasing Company if required which had a rating one […]

Feb 29, 2012 (LBO) – Fitch Ratings has confirmed an ‘A-(lka) rating of Lanka Orix Finance Plc (LOFIN) saying it reflected its strong franchise among registered finance companies and is satisfactory financial profile. Fitch said a negative outlook on the rating came from a heightened risk profile of its parent, Lanka Orix Leasing Company Plc. […]

Feb 28, 2012 (LBO) – Fitch Ratings said it was withdrawing Hayleys MGT Knitting Mills Plc’s ‘BBB(lka)’ rating soon after it stopped ratings its parent, Hayleys Plc. “Fitch Ratings Lanka has withdrawn Hayleys MGT Knitting Mills PLC’s (HMGT) ‘BBB(lka)’ National Long-Term rating with a Negative Outlook,” Fitch said in a statement. “On the basis of […]

Jan 05, 2012 (LBO) – Ram Ratings has confirmed an ‘A’ long term rating of Sri Lanka’s Tokyo Cement Plc, on its market share and healthy balance sheet but said the industry was cyclical and the firm was not able to immediately pass on costs. Tokyo Cement has grinding plants and shares half the market […]

Dec 20, 2011 (LBO) – Fitch Ratings has confirmed an ‘A(lka)’ rating of Singer (Sri Lanka) Plc, with a stable outlook based on it being one of the largest consumer durable retailers and a pickup in business. Fitch said a cut in taxes had reduced grey-market activities in consumer durables and lower inflation and interest […]

Dec 06, 2011 (LBO) – Sri Lanka has raised a limit on the foreign holdings on Treasury bills to 12. 5 percent of outstanding government debt from 10 percent, the Central Bank said, amid rising interest pressure from the defence of a dollar peg. The raising on the foreign Treasuries holdings limit will increase “resource […]

Nov 25, 2011 (LBO) – An effective signal interest rate in Sri Lanka has edged up over 30 basis points over the week with the monetary authority withdrawing excess liquidity through a cash auction a higher rate. The 3-month auction Treasury bill rate which is controlled by the monetary authority increased 44 basis points to […]