Global Fitch Ratings raises stake in Sri Lanka unit

Business

Fitch Ratings, a global rating agency, has increased its ownership of Fitch Ratings Lanka Ltd to approximately 89 per cent from 45 per cent through its acquisition of the equity interest of several shareholders, the company said in a public announcement on Thursday.
"We are excited about Fitch's commitment to Sri Lanka, one of Asia's fastest-growing fixed-income markets," said Maninda Wickramasinghe, Head of Fitch Ratings Lanka Ltd. "As a global brand recognised for independent opinions and a transparent methodology, coupled with on-the-ground insight and expertise, we look forward to helping to develop Sri Lanka's capital markets as demand for funding infrastructure projects and corporate investments increases."
Since its inception in Sri Lanka in 1999, Fitch Ratings has rated more than 60 issuers, including almost all the banks in Sri Lanka and over half of the financial institutions, as well as the leading conglomerates. The agency has also rated landmark transactions, including the country's first Basel III-compliant subordinated bond issued in October 2017. Fitch Ratings was also the first international rating agency to issue Sri Lanka's maiden rating of 'BB-' in December 2005 and the first agency to rate Sri Lanka's maiden USD500 million sovereign bond issue in 2007. (Bandula)

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 490 - 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

- 368 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 30, 2025

- 267 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 207 - 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

- 204 - 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.