Tue, 28 Mar 2023 Today's Paper

Fitch downgrades UL’s govt.-guaranteed bonds to ‘B-’


29 April 2020 07:28 am - 0     - {{hitsCtrl.values.hits}}


Fitch Ratings has downgraded the rating on SriLankan Airlines Limited’s (SLA) US$ 175 million government-guaranteed 7 percent unsecured bonds due on 25 June 2024 to ‘B-’, from ‘B’. 

Fitch said the rating action follows the downgrading of Sri Lanka’s Long-Term Foreign- and Local Currency Issuer Default Ratings to ‘B-’, from ‘B’, with a Negative Outlook.

“The national carrier’s bonds are rated at the same level as SLA’s parent, the State of Sri Lanka, due to the unconditional and irrevocable guarantee provided by the State,” the rating agency said.

The Sri Lankan government held 99.5 percent of SLA at end-2019 through direct and indirect holdings.

  Comments - 0

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment

Import of South Indian eggs: Sri Lanka walks on Indian eggshells

With the increase in egg prices the government decided to import eggs to regu

Wokeism: Is it destructive, or are you afraid of change? A response

In order to critically discuss a movement, we must first understand its etymo

Defeat in Ananthapuram Battle denoted the LTTE’s end

Many battles were fought during the long war between the Sri Lankan armed for

Wokeism: A Weapon of Mass Destruction?

When can one say they’ve had enough of being in a state of ‘wokeness’ a