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 (CCC), in line with Fitch’s Government-Related Entities (GRE) Rating Criteria. This is based on their 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 70% of the power generation.