Tag: Fitch Downgrades Kotagala Plantations to 'CCC(lka)'

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Fitch Ratings has downgraded Kotagala Plantations PLC’s National Long-Term Rating to ‘CCC(lka)’, from ‘B+(lka)’, and its listed unsecured debentures of LKR251 million due between the financial years ending March 2025 (FY25) and FY27 to ‘CCC-(lka)’, from ‘B+(lka)’. The downgrade follows a major weakening in liquidity. We expect the statutory increase in labour costs effective September […]

October 18, 2024 | Agriculture | Read More