Fitch Ratings to continue Kotagala Plantations’ coverage

Following the announcement of a withdrawal from issuing rating reports on Kotagala Plantations PLC in July, Fitch Ratings yesterday said it would continue the coverage on the plantation firm until further notice. 

“The press release titled ‘Fitch Plans to Withdraw Ratings of Kotagala Plantations’ on 24 July 2020 said, Fitch Ratings has reviewed its previous intention to withdraw rating coverage of Kotagala Plantations PLC, and has opted to continue coverage until further notice,” Fitch said in a statement, yesterday. 

Fitch currently rates Kotagala Plantations PLC as follows:  National Long-Term Rating at ‘RD(lka)’ - Senior secured rating at ‘C(lka)’ Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch’s last rating action on Kotagala Plantations was on 28 May 2020. The ratings were downgraded.