LKCSE Colombo Stock Exchange Open
  • Current Exchange
    Colombo Stock Exchange LKCSE

Market time

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
29 November, 2012 05:18 PM Source: CNBC

Fitch Ratings Lanka has affirmed Singer Finance (Lanka) PLC's (SFL) National Long-Term rating at 'BBB+(lka)'. The Outlook is Stable.

SFL's rating reflects Fitch's expectation that support, would be forthcoming from the parent, Singer (Sri Lanka) PLC (SSLP; 'A(lka)'/Stable), given the strategic importance of SFL to SSLP. Strong linkages between the two entities are underlined by the sharing of the Singer brand, SSLP's majority shareholding of 80.4%, board representation, and the financing by SFLof SSLP's products.

Any changes in SSLP's ability or propensity to extend support, as reflected in a change to SSLP's rating, a material change in ownership of SFL, or a change in SFL's strategic importance to SSLP, could trigger a rating action in SFL.

SSLP expects SFL to finance a greater share of its products over the medium-term after it raised its stake in the subsidiary to 80.4% from 75% by injecting LKR582.2m of equity into SFL in 2012. Four out of SFL's eight board seats are held by current SSLP officials and directors, including the chairman of SSLP and group chief executive officer. More...

Read Original Article

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login

Stocks in Focus

Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
Many more

Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014


Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?