Category: Economy and Markets
”’
May 22, 2015 (LBO) – Sri Lanka’s Fitch Ratings Lanka has assigned National Development Bank PLC’s proposed subordinated debentures of up to 10 billion rupees, an expected National Long-Term Rating of ‘A+(lka)(EXP)’. The rating agency also has withdrawn the expected rating of ‘AA-(lka)(EXP)’ assigned to NDB’s proposed senior debentures. Media release reproduced below: – The […]
Sri Lanka’s Commercial Credit Rs1bn debenture issue oversubscribed
May 22, 2015 (LBO) – Sri Lanka’s Commercial Credit and Finance issue of 10 million rupee rated, subordinated, guaranteed, redeemable five-year debentures valued 100 rupees each has been oversubscribed on opening day, the company said in a stock exchange filling.The Issue opened on Thursday 21 May.The five-year rated, subordinated, guaranteed, redeemable debentures will be listed […]
Sri Lanka stocks close down 0.22-pct
May 21, 2015 (LBO) – Sri Lanka’s stocks closed down 0.22 percent with investors taking profits and losses in the food and beverage stocks, brokers said. The Colombo benchmark All Share Price Index closed 16.08 points lower at 7,273.69 down 0.22 percent. The S&P SL20 closed 10.55 points lower at 4,062.97 down 0.26 percent. Turnover […]
”/Stable
Mar 21, 2015 (LBO) – Sri Lanka’s Fitch Ratings Lanka has affirmed Sanasa Development Bank PLC’s (SDB) National Long-Term Rating at ‘BB+(lka)’ with a stable outlook. The full report is reproduced below :- KEY RATING DRIVERS The rating captures SDB’s high exposure to the retail and lower-end SME segments, its weak asset quality, and pressure […]
Sri Lanka’s troubled Kalpitiya Beach Resort points finger at former regime
May 21, 2015 (LBO) – Sri Lanka’s Kalpitiya Beach Resort, a subsidiary of Citrus Leisure PLC, has said that the hotel project was held back due to former government incompetency to attract occupancy and build tourism infrastructure. In 2011, Kalpitiya Beach Resort has raised 283.5 million rupees from an initial public offering stating that the […]
Sri Lanka to face challenges in debt financing through global capital markets: Razeen Sally
May 21, 2015 (LBO) – Sri Lanka capital markets will have to face a tough time ahead in debt financing through global capital markets, an economist said.Razeen Sally an Associate Professor at the Lee Kuan Yew School of Public Policy, National University of Singapore speaking at the 62nd LBR LBO CEO forum held Wednesday pointed […]
Sri Lanka Treasury bill yields drop
Sri Lanka’s Treasury bill yields were down at Wednesday’s auction with 3-months yield dropped by 0.02 basis points and 6-month yields dropped by 0.03 basis points, data from the state debt office showed.It was decided to accept 11,129 million rupees from the auction of 03 month yield from received 18,628 million rupees worth bills.Treasury bills […]
Sri Lanka’s IOC unit records 1.06 billion loss in March 2015
May 19, 2015 (LBO) – Lanka IOC, a unit of Indian Oil Company reported 1.06 billion rupees loss in March 2015 against 722 million rupees profit reported last year, interim accounts showed. In the year to March profits were down to 1.8 billion rupees from 4.8 billion rupees a year earlier. The firm reported negative […]
Sri Lanka stocks close up at 0.15-pct
May 19, 2015 (LBO) – Sri Lanka’s stocks closed up at 0.15 percent with gains seen in some of the banking and conglomerate stocks, brokers said. The Colombo benchmark All Share Price Index closed 11.18 points higher at 7,266.20 up 0.15 percent. The S&P SL20 closed 9.15 points higher at 4,046.83 up 0.24 percent. Turnover […]
Sri Lanka sells Rs3.3bn in 09 year bonds; 07 year bonds rejected
May 19, 2015 (LBO) – Sri Lanka has sold 3.29 billion rupees of nine year bonds after calling bids for two billion rupees of bonds, the state debt office said. The debt office on Tuesday sold the bond maturing on 15 March 2025 at weighted average yield of 9.01 percent. The bond has received 14.67 […]
‘s Debt assigned final ratings: Fitch
May 19, 2015 (LBO) – Fitch Ratings Lanka has assigned DFCC Vardhana Bank PLC’s proposed Basel II-compliant senior debentures a final National Long-Term Rating of ‘AA-(lka)’ and proposed Basel II-compliant subordinated debentures a final National Long-Term Rating of ‘A+(lka)’, the rating agency said in a press release. The Media Release Reproduced Below:- The final ratings […]
‘s Haycarb profit margins squeezed by high charcoal prices
May 19, 2015 (LBO) – Sri Lankan coconut shell-based activated carbon manufacture Haycarb’s March 2015 quarter profit after tax rose 18.33 percent to 279 million rupees from 236 million rupees last year, the interim accounts filed with the stock exchange revealed. “The increase in price of the primary raw material, coconut shell based charcoal impacted […]