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 downgrades Sri Lanka's John Keells Holdings to 'AA+(lka)'
Wed, Sep 3, 2014, 07:24 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 03, Colombo: Fitch Ratings has downgraded John Keells Holdings PLC's (JKH) National Long-Term Rating to 'AA+(lka)' from 'AAA(lka)'. The Outlook is Stable.

The downgrade reflects the deterioration in JKH's business risk profile, driven by the weakening competitive position of its key dividend-paying associate, South Asia Gateway Terminals (SAGT), in which JKH owns 42%.

JKH is a holding company with interests in transportation, leisure, property, consumer foods, retail and financial services, and it depends largely on dividend income to meet its financial obligations.

The JKH's drop in the volume of its transportation sector and the higher business risk in its property sector were the key rating drivers for downgrade. However, the rising tourist arrivals which are likely to boost dividends from the leisure sector, and strong liquidity are positive key factors.

Read the full statement by Fitch Rating here

ColomboPage - Recent 10 Stories
All ranks, privileges and pension restored for former Sri Lanka Army commander
-- [1 hour and 8 minutes ago]
Sri Lanka Telecom to offer CYREN cybersecurity solution
-- [1 hour and 38 minutes ago]
No change in Sri Lanka's liberal market policies with India, Minister assures
-- [2 hours ago]
Six new provincial governors sworn in Sri Lanka
-- [2 hours ago]
Senior journalist Dharmasri Ekanayake appointed President's Media Director
-- [4 hours ago]
UK Minister Hugo Swire to visit Sri Lanka
-- [5 hours ago]
Sri Lanka's Attorney General summoned by Appeal Court in case against KP
-- [5 hours ago]
Sri Lankan court orders probe in to UPFA MP's accounts over investigation into drug peddling
-- [5 hours ago]
New Governor of the Central Bank of Sri Lanka takes office
Sri Lanka lawyers' body and civil society to commence continuous protest campaign seeking resignation of Chief Justice

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.