Sat, 18 Sep 2021 Today's Paper

Fitch maintains Ceylon Income Fund on Rating Watch Negative

28 August 2015 06:47 am - 0     - {{hitsCtrl.values.hits}}

A A A


Fitch Ratings has maintained the ‘(A(lka))’ National Fund Credit Quality Rating of the Ceylon Income Fund on Rating Watch Negative (RWN). The National Fund Volatility Rating is ‘V-NR’.
The maintenance of the RWN is driven by an increase in the proportion of the fund rated only by Lanka Rating Agency (LRA) following redemption activity in the fund. The Securities and Exchange Commission of Sri Lanka issued a statement in July 2015 saying that LRA is not entitled to assess, evaluate or review the creditworthiness of listed securities or securities to be listed.


The fund’s Weighted Average Rating Factor was previously consistent with a National Fund Credit Quality Rating in the ‘A(lka)’ category. The fund primarily invests in corporate debt instruments and is managed by Ceylon Asset Management.
Fitch will resolve the RWN with an affirmation if the assets that were previously rated by LRA reduce materially or if these assets are rated by another rating agency, in accordance with the plan communicated to Fitch by the manager. Conversely, should the proportion of assets rated by LRA only remain high and efforts to exit these LRA-only rated securities in the short time-frame expected by the manager prove unsuccessful, then Fitch will likely withdraw the rating due to insufficient information to maintain the rating.


In accordance with Fitch’s policies the issuer appealed and provided additional information to Fitch that resulted in a rating action which is different than the original rating committee outcome.
See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


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




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


Mysterious disease killing pups!

A mysterious respiratory disease affecting puppies in the Central Province is

Jacqueline Fernandez; Lankan Star Shining in Indian Film Sky

Sri Lanka’s Jacqueline Fernandez who has made a name for herself in India

Young families share stories of pregnancy in a pandemic

For hundreds of expectant and new mothers, pregnancy and childbirth are nothi

“Your travel plans should not come first” – Dr. Dinu Guruge

In a recent live discussion on fighting the Covid-19 pandemic hosted by Daily