Fitch rates Singer Finance’s Sub-Debt ‘A-(lka)(EXP)’ | Daily News

Fitch rates Singer Finance’s Sub-Debt ‘A-(lka)(EXP)’

Fitch Ratings has assigned Singer Finance (Lanka) PLC’s (SFL, A+(lka)/Stable) proposed Sri Lanka rupee-denominated subordinated unsecured debentures an expected national long-term rating of ‘A-(lka)(EXP)’.

The proposed debentures are to total up to LKR2 billion with a maturity of five years and will carry fixed and floating rate coupons. SFL plans to use the proceeds to strengthen its Tier II capital, support its loan-book expansion and for working capital requirements.

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