- Last Update 2025-06-08 16:36:00
Fitch affirms SriLankan Airlines’ Government Guaranteed Bonds at ’C’; withdraws rating
Fitch Ratings has affirmed the rating on SriLankan Airlines Limited's (SLA) US$175 million government guaranteed 7 per cent unsecured bonds due on June 25, 2024 at 'C', and withdrawn the rating.
The rating on the bonds was driven by the unconditional and irrevocable guarantee of the government of Sri Lanka (Long-Term Foreign-Currency Issuer Default Rating (IDR): RD). Fitch has chosen to withdraw the rating for commercial reasons. Therefore, Fitch will no longer provide ratings or analytical coverage for SriLankan Airlines, the agency said in a statement on Tuesday.
SLA did not pay the bonds' principal and interest on the due date and is currently within the 30-day grace period. In addition, the airline's previous defaults on the bond's coupon payments due December 25, 2023, June 25, 2023 and December 25, 2022 are continuing, with grace periods having expired. Another event of default was triggered due to the April 12, 2022 announcement by the Sri Lankan government of a debt moratorium on several categories of sovereign and public sector entities' external debt, as well as the ensuing non-payment of interest on the government's external debt, Fitch said.
-
Still No Comments Posted.
- May 31, 2025 - 494 - 0
Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary
Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred
- June 2, 2025 - 461 - 0
National Tax week launched
The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.
- June 2, 2025 - 370 - 0
SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.
- June 3, 2025 - 209 - 0
Krishanthi Kumaraswami convicts FR dismissed by SC
The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.
- June 6, 2025 - 208 - 0
SriLankan flight grounded in Indonesia
A SriLankan airlines flight has been grounded in an airport in Indonesia due to a technical defect leaving 93 passengers stranded, an official said.
Related Articles
Presidential power to pardon prisoners misused
- 08/06/2025 - 99 - 0
Four drowned in Aralaganwila
- 08/06/2025 - 81 - 0
Police probe theft of Macaw from Zoo
- 08/06/2025 - 75 - 0
Discarded soft toys make garbage tractor appealing
- 08/06/2025 - 108 - 0
Leave Comments