Sri Lanka, Sept. 25 -- Fitch Ratings has assigned Sri Lanka-based Hayleys Fentons Limited (HFL) a National Long-Term Rating of A+(lka). The Outlook is Stable.
The rating reflects HFL's leading market share in domestic rooftop solar panel sales and installation, which drove cash flow in the financial year ending March 2025 (FY25), alongside slowing growth amid regulatory risks. Diversification into power generation over the next few years carries execution risk but could enhance revenue visibility, subject to the weak credit quality of the sole offtaker, Ceylon Electricity Board (CEB, A(lka)/Stable).
HFL's A+(lka) rating comprises its standalone credit profile of 'a(lka)' and a one-notch uplift for support from its stronger parent, Hayleys...