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13 August, 2013 09:22 AM Source:
Fitch Ratings.jpg

Sri Lanka-based Singer Finance’s Rs. 1.25 billion bond issue has been given a final rating of  ‘BBB+(lka) by Fitch Ratings Lanka.

Fitch says, the final rating is at the same level as the expected rating assigned on 3 June 2013.

On the 8th of August 2013, Fitch has signed the trust deed for issuance of up to Rs. 1.25 billion senior unsecured bonds in three tranches with maturities of 3, 4 and 5 years and fixed rate coupons of 14%, 14.25% and 14.5%, respectively.

The Rating firm says, the debentures are rated at the same level as SFL’s National Long-Term rating of ‘BBB+(lka)’, as they constitute direct, unconditional, unsecured and unsubordinated obligations of the company. More...

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