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
Sri Lanka's migrant workers' organization pledges support to opposition candidate
Sri Lanka ruling party supporters attack UNP rally in Haputale
Landslide warning issued for 4 districts in Sri Lanka
Sri Lankan President says common opposition candidate copied his budget proposals
Two Russian naval ships arrive at Sri Lanka port
Heavy rains in Sri Lanka cause havoc with floods
India to export two warships to Sri Lanka
Sri Lanka Election Commissioner asks employers to grant leave for workers to vote
International Gem, Mineral & Jewellery trade show opens in Sri Lanka
Sri Lanka Police to investigate ruling party minister taking suspects of arson attack away from police custody

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.