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 Final 'A+(lka)'
Fri, Apr 4, 2014, 12:22 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 04, Colombo: Fitch Ratings announced that it has assigned Sri Lanka-based Hemas Holdings PLC's (HHP) senior unsecured redeemable debentures of up to Rs. 1 billion a final rating of 'A+(lka)'.

The assignment of the final rating follows the receipt of the final documents conforming to information previously received. The final rating is at the same level as the expected rating assigned on 31 March 2014.

Hemas Holdings is likely to use the proceeds for refinancing existing debt, which will lengthen its debt maturity profile.

Hemas, a holding company with its main wholly owned subsidiaries operate in the fast-moving consumer goods, healthcare and transportation sectors. The company also has majority interest in subsidiaries that are involved in the leisure and power sectors.

Diversified Operations was a key rating driver for the 'A+(lka)' rating assigned for the holding company.

According to the rating agency, the HHP's 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
Police asked to take custody of government vehicles still retained by former MPs
-- [19 minutes ago]
Sri Lanka Police arrest 386 on election law violations and related incidents
-- [36 minutes ago]
Sri Lanka survey finds Ranil Wickremasinghe is favored by all communities to be the PM
-- [1 hour and 23 minutes ago]
Saudi employer offers his Sri Lankan housemaid for sale online
-- [2 hours ago]
Former monitoring MP Sajin Vaas Gunawardena further remanded
-- [3 hours ago]
Central Expressway is the first step to build a new country in 60 months - PM
-- [3 hours ago]
Sri Lanka Economic Summit 2015 begins today
-- [4 hours ago]
Sri Lanka's investment board to ink agreements with 4 foreign investors
-- [5 hours ago]
Former Sri Lankan leader vows not to leave any room to divide the country
Sri Lanka to issue US$ 100 million development bonds

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.