Fitch Ratings has assigned SriLankan Airlines Limited’s (SLA) US dollar-denominated government guaranteed bonds a final rating of ‘BB-’. The final rating is the same as the expected rating assigned on June 17 2014, and follows the receipt of documents conforming to information already received.
The bonds are rated at the same level as SLA’s parent the government of Sri Lanka (GoSL) due to the unconditional and irrevocable guarantee provided by the government. GoSL directly holds 95% and indirectly holds 4% of SLA, through state owned entities. The proceeds of the issuance were for the acquisition of aircraft and working capital.
The rating of the bond is based on an unconditional and irrevocable guarantee of principal and interest of the notes provided by GoSL.
As a result, the bond is rated at the same level as GoSL (BB-/Stable).
www.dailynews.lk
The bonds are rated at the same level as SLA’s parent the government of Sri Lanka (GoSL) due to the unconditional and irrevocable guarantee provided by the government. GoSL directly holds 95% and indirectly holds 4% of SLA, through state owned entities. The proceeds of the issuance were for the acquisition of aircraft and working capital.
The rating of the bond is based on an unconditional and irrevocable guarantee of principal and interest of the notes provided by GoSL.
As a result, the bond is rated at the same level as GoSL (BB-/Stable).
www.dailynews.lk
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