Fitch Ratings Lanka has drawn the Business Times attention to an error in an article last week under the above heading. The first sentence said: “The Ceylon Petroleum Corporation (CPC) owes Rs 18.5 billion, in oil hedging dues, to the Standard Chartered Bank of Sri Lanka (SCBSL) this June, boosting the bank’s financial health, said a rating report from Fitch Ratings Lanka.”
The sentence should be corrected as: “The Ceylon Petroleum Corporation (CPC) owes Rs 18.5 billion, in oil hedging dues, to the Standard Chartered Bank of Sri Lanka (SCBSL), that was transferred to SCB, London, in June 2010, said a rating report from Fitch Ratings Lanka.”
The sentence in the last paragraph which read “Following these improvements, Fitch Ratings has affirmed SCBSL’s national long-term rating at 'AAA(lka)' with a stable outlook”, should be corrected as: “Reflecting SCB’s financial strength, of which SCBSL is a branch and part of the same legal entity, Fitch Ratings has affirmed SCBSL’s national long-term rating at 'AAA(lka)' with a stable outlook.” |
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