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Sri Lanka Banks' National Ratings Constrained by Sovereign Rating - Adaderana Biz English

Fitch Ratings: The National Ratings on Sri Lankan banks remain constrained by the sovereign credit profile (CCC), Fitch Ratings says. The highest National Rating for domestic banks with ratings driven by their intrinsic credit profiles is ‘AA-(lka)’. This is the highest point on the national scale that corresponds to an international scale rating of ‘CCC’. ....

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Singer Sri Lanka raised to AA (lka)


7 February, 2021
Singer Sri Lanka’s National Long-Term Rating was elevated to AA(lka) following a recalibration by Fitch Ratings of its Sri Lankan National Rating scale.
According to Fitch Ratings this rating affirmation, has been revised to ‘AA(lka)’ from ‘BBB+(lka)’. The outlook for this credit rating is stable. 
Singer Sri Lanka has continued to showcase robust financial results and a strong turnaround during the last few quarters, despite challenging pressures due to the effects of the Covid-19 pandemic. 
The Group’s strong comeback bears testament to its proactive strategic initiatives adopted to boost sales, and its drive to improve profitability under difficult market conditions mainly caused by the Covid-19 pandemic. Solid results during the last few quarters is also due to the process efficiencies and cost rationalisation implemented in recent months supported by a resilient demand for the Group’s information technology products. ....

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Singer (Sri Lanka) raised to AA (lka)


news
Singer (Sri Lanka) raised to AA (lka)
Daily News (via HT Media Ltd.)
Singer Sri Lanka’s National Long-Term Rating was elevated to AA (lka) following a recalibration by Fitch Ratings of its Sri Lankan National Rating scale.
According to Fitch Ratings this rating affirmation, has been revised to ‘AA (lka)’ from ‘BBB+(lka)’. The outlook for this credit rating is stable. Singer Sri Lanka has continued to showcase robust financial results and a strong turnaround during the last few quarters, despite challenging pressures due to the effects of the Covid pandemic.
The Group’s strong comeback bears testament to its proactive strategic initiatives adopted to boost sales, and its drive to improve profitability under difficult market conditions mainly caused by the Covid-19 pandemic. Solid results during the last few quarters is also due to the process efficiencies and cost rationalisation implemented in recent months supported by a resil ....

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Fitch Revises 9 Sri Lankan Financial Institutions' Ratings on Recalibration; 2 Downgrades - Adaderana Biz English


January, 25, 2021
Fitch Ratings - Colombo - 25 Jan 2021: Fitch Ratings has revised the National Long-Term Ratings of Sri Lankan financial institutions following the recalibration of the agency s Sri Lankan national rating scale. The recalibration is to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch s downgrade of the sovereign rating to CCC from B- /Negative on 27 November 2020. Fitch typically does not assign Outlooks or apply modifiers to sovereigns with a rating of CCC or below. Revision ratings are used to modify ratings for reasons that are not related to credit quality in order to reflect changes in the national rating scale driven purely by the recalibration of the National Ratings Correspondence Table. ....

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