CIC gets positive int’l rating
 RAM
Ratings Lanka has assigned respective long- and short-term corporate
credit ratings of A and P2 to CIC Holdings PLC; the outlook on the
long-term rating is stable. The Group’s ratings are supported by the
dominant market positions in its key business areas as well as resilient
demand for agriculture related products. The ratings also reflect CIC’s
adequate gearing and debt protection metrics and the Group’s diversified
business profile, the ratings agency said in a statement. “The ratings
are however, pressured by the competitive industry landscape the Group
operates in, as well as its exposure to vagaries of the agriculture
segment.
“CIC has diversified businesses in the agribusiness and livestock
industry as well as interests in the consumer and pharmaceutical
industries, paints, industrial raw material and packaging. The Group has
strong market positions in most of its key business lines, particularly
in its agribusiness portfolio.
CIC is the largest private sector player in the domestic fertiliser
industry, with an estimated 40 percent market share in the non-paddy
segment. The Group is one of the largest players in the pesticides
market, with a share of around 25 percent. The information contained in
this report, researched and compiled for purposes of information do not
purport to be complete description of the subject matter referred to
herein.
In preparing this report care has been exercised to collect
information from sources which we believe to be reliable although we do
not guarantee the accuracy and completeness thereof. Lanka Securities
(Pvt.) Ltd and/or its affiliates and/or its directors, officers and
employees shall not in any way be responsible or liable for loss or
damage which any person or party may sustain or incur by relying on the
contents of this report and acting directly or in directly in any manner
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