Fitch gives Singer Finance debt BBB+(lka)

Fitch Ratings said it assigned Sri Lanka-based Singer Finance (Lanka) plc's senior unsecured debt a final national long-term rating of BBB+(lka). The final rating is at the same level as the expected rating assigned on June 3.

On Aug. 8, the entity signed the trust deed for issuance of up to LKR 1.25 billion senior unsecured bonds in three tranches with maturities of three, four and five years and fixed-rate coupons of 14%, 14¼% and 14½%, respectively.

Fitch said the debentures are rated at the same level as Singer Finance's national long-term rating, as they constitute direct, unconditional, unsecured and unsubordinated obligations of the company. Singer Finance's rating reflects support from its 80.4% parent, Singer (Sri Lanka) plc (Singer; A(lka)/stable).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.