The downgrading comes on the top of a planned medium term debenture by the group as exclusively reported by LBR recently. rn

rnFitch says that the rating cut comes in the wake of higher leverage levels due to acquisitions.rn

rnJKH group recently acquired a ninety percent stake in the bunkering Lanka marine services company.rn

rnThe group forked out Rs. 1.2 bn for the deal.rn

rnJohn Keells Chairman Vivendra Linthotawala told LBR that the group plans to aggressively push shareholder value creation.rn

rnYet, analysts don
quote t expect the groups
quote debt servicing cost to rise due to the downgrade. rnrnrn