Sri Lanka, April 23 -- Fitch Ratings has assigned Siyapatha Finance PLC's (A(lka)/Stable) proposed Sri Lankan rupee-denominated senior unsecured debentures of up to Rs. 5 billion an expected National Long-Term Rating of 'A(EXP)(lka)'.
The proposed debentures will mature in five years and will be listed on the Colombo Stock Exchange. The company plans to use the proceeds to support its loan-book expansion.
The final rating is subject to the receipt of final documentation conforming to information already received.
The senior unsecured debentures are rated at the same level as Siyapatha's National Long-Term Rating in accordance with Fitch's criteria. This is because the issue ranks equally with the claims of the company's other senior unse...