Tag: Fitch Downgrades Hela Apparel Holdings to AA-(Ika); Outlook Negative

Fitch Ratings has downgraded Sri Lanka- based apparel manufacturer Hela Apparel Holdings PLC’s National Long-Term Rating to ‘AA-(Ika)’, from ‘AA(Ika)’. The Outlook is Negative. The downgrade is based on our forecast that Hela’s interest coverage and leverage will weaken to below our negative rating sensitivities in the financial year ending March 2023 (FY23) and FY24. […]