Fitch: Abans notes A-(lka)

Fitch Ratings said it affirmed Abans Pvt. Ltd.'s national long-term rating at A-(lka), and assigned to its proposed 300 million in Sri Lanka rupee senior unsecured debenture 2011-2014 an A-(lka) national long-term rating.

The outlook is stable.

The affirmation reflects an expected increase in both sales and operating profitability in the key consumer durables segment for 2011, Fitch said.

An expected turnaround of Abans Financial Services Ltd.'s operating profitability also is likely to aid Abans' performance in the near term, the agency said.

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