Fitch Affirms Ceylon Electricity Board at AA-(lka); Outlook Stable

Fitch Ratings has affirmed Sri Lanka-based Ceylon Electricity Board’s (CEB) National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook. They have also affirmed the National Long-Term Rating on CEB’s senior unsecured debentures at ‘AA-(lka)’.

CEB’s ratings are equalised with that of its parent, the Sri Lankan sovereign (Long-Term Local-Currency Issuer Default Rating: CCC/Under Criteria Observation), in line with Fitch’s Government-Related Entities (GRE) Rating Criteria.

This is based on the assessment of a very strong likelihood of support from the state. CEB is the country’s monopoly electricity transmitter and distributor and accounts for around 75% of power generation.

Fitch-Affirms-Ceylon-Electricity-Board-at-AA-lka_-Outlook-Stable

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