Category: Companies

Feb 27, 2015 (LBO) – Sri Lanka’s John Keells Holdings has informed Fitch Ratings Lanka, a rating agency that it will terminate its rating agreement with the company with effect from 27 March 2015, the company said in a filing to stock exchange. John keels also said that it would consider an international rating when […]

Jan 30, 2015 (LBO) – Sri Lanka’s John Keells Holdings said it will continue the Waterfront property project as planned despite the new government’s amendment to restrict the ability to rent space for gamin facility.The company said this in a stock exchange filling today. JKH says even though the proposed amendment will constrain the ability […]

Dec 23, 2014 (LBO) – Sri Lanka Security Exchange Commission (SEC) issued a directive to be included in the Colombo Stock Exchange listing rules, which will further strengthen the SEC’s mandate for protecting investors, SEC said in a statement. Media Statement Reproduced Prior to this, entities were not required to disclose the basis of the […]

Sep 24, 2014 (LBO) – Sri Lanka Industrial association says despite conducive interest rates and stable inflation, the weakening of the islands ‘private sector credit growth is not healthy to achieve economic targets.Speaking further Jayasinghe said it is needed to have a sound and clear industrial policy frame work to increase the industry sector contribution […]

Sep 12, 2014 (LBO) – Sri Lanka’s Fitch Ratings has affirmed “BB” rating for the issue of US dollar dominated notes which is due 2019 of Sri Lanka-based National Savings Bank, the rating agency said in a media statement. NSB’s ratings are: Long-Term Foreign Currency IDR: ‘BB-‘; Outlook Stable Long-Term Local Currency IDR: ‘BB-‘; Outlook […]

September 03, 2014 (LBO) – Sri Lanka’s People’s Leasing and Finance said it will sell up to 3.0 billion rupees, listed debentures with subscriptions opening on September 15.About 30,000,000 senior unsecured redeemable rated debentures will be issued at a price of 100,000 rupees each, the announcement said. The bank said this in an announcement of […]

July 28, 2014 (LBO) – Sri Lanka’s Lanka Rating Agency, formerly RAM Ratings Lanka.said it had entered struck deal get technical assistance and training from India’s CRISIL. The majority shareholder of CRISIL is Standard and Poor’s.Lanka Ratings Agency Chairman Preethi Jayawardena said CRISIL had provided technical assistance to other rating agencies including RAM in Malaysia […]

July 02, 2014 (LBO) – Fitch Ratings said it had given an ‘A-(lka)’ expected rating to a planned Singer (Sri Lanka) debenture issue of up to 1.5 billion rupees. The senior unsecured debentures are rated the same as Singer (Sri Lanka) Plc. Fitch said the 3-year fixed rate debenture proceeds will be used to refinance […]

June 17, 2014 (LBO) – Fitch Ratings has given a ‘BB- (EXP) rating for a proposed government guaranteed dollar bond by SriLankan Airlines. The full statement is reproduced below:- Fitch Rates SriLankan Airlines’s Guaranteed USD Bonds ‘BB-(EXP)’ Fitch Ratings-Singapore/Colombo-17 June 2014: Fitch Ratings has assigned SriLankan Airlines Limited’s (SLA) proposed issue of US dollar denominated […]

May 23, 2014 (LBO) – Sri Lanka’s Kotagala Plantations Plc said it had received orders of over a billion rupees for a stock exchange listed debenture offer. The firm planned to use 250 million rupees to repay an 18 percent term loan, 400 million rupees to settle an overdraft at 15.5 percent and 50 million […]

May 22, 2014 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Singer Finance Lanka Plc’s (SFL) rating by one level to ‘BBB(lka)’ with a ‘stable’ outlook following a cut in the rating of its parent, Singer Sri Lanka Plc. RATING SENSITIVITIES- NATIONAL RATINGS AND SENIOR DEBT A weakening in SFL’s intrinsic strength would only trigger […]

May 12, 2014 (LBO) – Sri Lanka’s Kotagala Plantations, has been given the nod to sell up to a billion rupees in debt, the Colombo Stock Exchange said.The investment banking unit of People’s Bank will manage the sale.The firm will offer 5 million secured rated debt securities of 100 rupees each and another 5 million […]