Fitch rates Singer Finance’s Senior-Debt Final ‘BBB (lka)’

Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL, BBB (lka)/Stable) Sri Lanka

Rupee-denominated senior unsecured debentures of up to LKR1.5 billion a final National Long-

Term Rating of ‘BBB(lka)’.

The final rating is the same as the expected rating assigned on 5 November 2019 and follows the receipt of documents conforming to information already received. The debentures are to mature in three and five years and carry fixed and floating coupons. SFL plans to use the proceeds to support its loan-book expansion.

The debentures are to be listed on the Colombo Stock Exchange.

The senior debentures are rated in line with SFL’s National Long-Term Rating and rank equally with the claims of other senior unsecured creditors.