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
Sri Lankan government fills diplomatic posts vacated by recall of envoys
-- [38 minutes ago]
Sri Lanka Cricket confirms claims of sexual harassment of women's team members
-- [1 hour and 33 minutes ago]
Sri Lanka Shippers' Council concerned over Customs Chief's resignation
-- [2 hours ago]
USAID helps Sri Lankan manufacturer develop eco-friendly roofing products
-- [2 hours ago]
Tourism Bureau promotes Sri Lanka as an island of thousand treasures
-- [8 hours ago]
Former state minister appointed as legal advisor to Sri Lankan President
-- [9 hours ago]
Sri Lanka school children to observe 2-minutes silence in memory of rape victim
-- [9 hours ago]
Harvard appoints Sri Lanka-born American diplomat Patrick Mendis as Senior Fellow
Sri Lanka court further remands former minister Basil Rajapaksa
Sri Lanka cabinet expected to decide on 20th Amendment to Constitution today

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.