Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Fitch Rates Hemas Holdings Debt at 'A+(lka)(EXP)'
Tue, Apr 1, 2014, 10:49 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 01, Colombo: Fitch Ratings announced that Sri Lanka-based Hemas Holdings PLC's (HHP) proposed issue of senior unsecured redeemable debentures up to Rs. 1 billion has been assigned an expected rating of 'A+(lka)(EXP)'.

The final rating on the debentures is subject to the receipt of transaction documents conforming to information already received.

The proceeds of the issuance are likely for refinancing existing debt, therefore lengthening HHP's debt maturity profile.

HHP is a holding company with key wholly owned subsidiaries operating in fast-moving consumer goods, healthcare and transportation sectors. The company also has majority interests in subsidiaries across leisure and power.

Fitch assigning the rating noted that the Hemas' rating reflects the essential nature of and resilient demand for end products and services of its key operating subsidiaries, supported by its low financial risk at the holding company and Group levels.

The rating also factors in the businesses' strong brands, leading market share and moderate free cash flow generation.

The full statement by Fitch Rating can be found here.

ColomboPage - Recent 10 Stories
Sri Lanka receives the 3rd tranche of relief assistance from Pakistan
-- [27 minutes ago]
No-confidence motion against Sri Lanka Finance Minister scheduled for 8 June
-- [52 minutes ago]
Australian federal court dismisses Sri Lankan Tamil's asylum application, orders to return home
-- [2 hours ago]
Minister not satisfied with progress of flood relief, calls for cash assistance for affected families
Sri Lanka Bribery Commission inquires distribution of assistance to disaster victims
Sri Lankan Prime Minister to leave for South Korea tomorrow
Sri Lanka Tourism celebrates its Golden Jubilee
Sri Lankan government promises to rebuild all the houses damaged in floods and landslides
Sri Lanka's Power Regulator ask licensees for regulatory accounts
Fisheries Ministry to pay compensation to fishermen affected by the extreme weather

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.