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 Affirms Sri Lanka Telecom at 'BB-'/'AAA(lka)', outlook Stable
Tue, Mar 4, 2014, 11:56 am SL Time, ColomboPage News Desk, Sri Lanka.

Mar 04, Colombo: Fitch Ratings has affirmed Sri Lanka Telecom PLC's (SLT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BB-'. The agency also affirmed SLT's National Long-Term Rating at 'AAA(lka)'. The Outlook is Stable.

A key rating driver was SLT's potential debt-funded acquisition of Hutchison Telecommunications Lanka (Pvt) Ltd. (Hutchison Lanka) which could increase its leverage over 1.5x and would lead to a downgrade of its National Long-Term Rating to 'AA+(lka)'.

Fitch Ratings said the acquisition would be negative for SLT's credit profile as it would double its net debt and dilute operating EBITDAR margin because Hutchison Lanka has EBITDA losses.

However, SLT will gain 800,000 subscribers and key spectrum assets in 900MHz/1800MHz, and will save on capital expenses in 2014/15 following the acquisition.

The full rating release issued by Fitch can be found here.

ColomboPage - Recent 10 Stories
Death toll of Katukurunda boat tragedy rises to 14
-- [11 minutes ago]
NARA studies effect of Sri Lanka's Norochcholai coal power plant's hot water emission to the ocean on marine resources
-- [31 minutes ago]
NDB Bank records PAT of Rs. 3.2 billion for 2016
-- [45 minutes ago]
Sri Lanka consumer protection agency raids traders selling rice above MRP
Minister urges to switch off street lamps early to save energy as hydropower generation possible only until April
Government to pay compensation to victims of boat accident
Indian Cultural Centre presents A Musical Evening -Hindi Film Songs from 60's, 70's and 80's
Indian migrant laborer charged with the murder of Sri Lankan in Malaysia
Sri Lankan Navy accused of chasing away 3000 Tamil Nadu fishermen from island waters
Representatives of US Congress laud Sri Lanka's transformative process

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.