Category: Companies

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. 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 […]

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’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 […]

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. […]

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 […]

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 […]

Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. Seylan Bank has picked up a BBB+ (sri) rating for its upcoming five year billion rupee debenture from Fitch Ratings Lanka. The bank is issuing unsecured subordinated debt to meet beef up its capital. […]