Category: Companies

Aug 11, 2013 (LBO) – The sale of up to three billion rupees in deep discount bonds by Sri Lanka’s Hatton National Bank will open on Aug 23.Fitch Ratings had give the proposed bond an expected rating of ‘AA-‘ same as HNB’s long term rating. The bank is offering 20 million debentures at 100 rupees […]

Aug 08, 2013 (LBO) – An ‘AA’ rating of Sri Lanka’s Sampath Bank has been confirmed by RAM Rating Lanka with a stable outlook.“The ratings are supported by the Bank’s healthy asset quality and good market position,” the rating agency said. “On the other hand, the ratings are temperedby the Bank’s average capitalisation.” RAM said […]

July 29, 2013 (LBO) – Nanda Finance Investment Plc, a small finance company that was recently acquired by Bangladesh-based BRAC micro finance group and Sri Lanka’s LOLC group has been placed on positive rating watch on a possible upgrade by RAM Ratings.RAM said the firm was small, lacked of a clear strategic direction. “However, given […]

June 28, 2013 (LBO) – Fitch Ratings has given an ‘AA-(lka)’ expected rating to a 3.0 billion rupee deep discount debenture to be sold by Sri Lanka’s Hatton National Bank. HNB expects to list the debentures subject to regulatory approvals.The final rating is contingent upon the receipt of final documentation conforming to information already received. […]

May 28, 2013 (LBO) – Sri Lanka’s Softlogic said it had raised 500 million rupees in two year funds by selling securitized debt.The firm said commercial banks, development banks and institutional investors had subscribed to the issue, arranged by Liege Capital with Deutsche Bank as trustee and Nithya Partners as lawyers. The funds raised by […]

May 28, 2013 (LBO) – Subscribers to debentures of Sri Lanka’s Senkadagala Finance Plc, rated BBB+(lka) by Fitch will get up to 180,000 the entire amount asked for, in either fixed or floating rate securities. The firm offered to sell 500 million rupees of debt, upsized to a billion rupees if oversubscribed, and offer closed […]

May 18, 2013 (LBO) – Sri Lanka’s Bogala Graphite Plc, a unit of Germany’s AMG Mining AG, returned to a profit of 15.6 million rupees in the March 2013 quarter despite a fall in revenues as forex losses last year reversed.The foreign exchange gain for the current period from a Euro loan was 8.5 million […]

May 4, 2013 (LBO) – Fitch Ratings said it had given a final rating of ‘A(lka)’ to a 1.5 billion rupee tranche of fixed interest rate unsecured debentures to which it had previously given an expected rating. “The issue proceeds are to be used to lengthen the maturity profile of existing debt, thereby improving Singer’s […]

Apr 23, 2013 (LBO) – Sri Lanka’s ‘BB-‘ sovereign rating has been confirmed with a stable outlook by Fitch on tighter monetary policy and corrective measures to stem balance of payments troubles but warned of rising foreign debt. Sri Lankan authorities expected 7.5 percent and 8.0 percent. Fitch said the government forecast of higher growth […]

Apr 12, 2013 (LBO) – Sri Lanka’s Hayleys Plc, a diversified group will sell 2.0 billion rupees of listed unsecured debt which will have been rated ‘AA-‘ by RAM Ratings Lanka. RAM said the group’s business was diversified with strong markets in gloves and activated markets. But the group’s debt had increased 30 percent year-on-year […]

Apr i1, 2013 (LBO) – Sri Lanka’s Hatton National Bank Plc is planning to sell 4.0 billion rupees of subordinated debt, which has been rated ‘A+(lka)(EXP)’ one notch below its long term rating, Fitch Ratings said. Rating Action Rationale The proposed debentures are rated one notch below HNB’s National Long-Term rating of ‘AA-(lka)’ to reflect […]

Apr 11, 2012 (LBO) – Singer Sri Lanka Plc, a consumer durables firm will sell 1.5 billion rupees of senior debt which has been given an expected ‘A(lka)’ rating, Fitch Ratings said. Fitch had also confirmed an ‘A(lka)’ rating of the company. The outlook is stable. Singer will use the money from the debenture to […]