Fitch Ratings has affirmed Abans' National Long-Term Rating at 'BBB+(lka)' and revised its outlook to stable.
Fitch has also affirmed the National Long-Term Rating on Abans' unsecured redeemable debentures at 'BBB+(lka)' and its outstanding commercial paper at National Short-Term Rating of 'F2(lka)'.
The outlook revision reflects improvements in Abans' net leverage due to improvements in the operating environment and its margins, which Fitch considers sustainable in the medium term.
The outlook is also supported by Fitch's expectations that Abans' capex and investments are likely to be minimal in the medium term, which would help sustain improvement in its leverage.
Abans' leverage, as measured by lease-adjusted net debt/operating EBITDAR (excluding Abans Finance PLC), improved to 6.48x in the financial year ended March 2015 (FY15) from 8.04x in FY14, supported by strong top-line growth and a wider EBITDAR margin.
www.dailynews.lk
Fitch has also affirmed the National Long-Term Rating on Abans' unsecured redeemable debentures at 'BBB+(lka)' and its outstanding commercial paper at National Short-Term Rating of 'F2(lka)'.
The outlook revision reflects improvements in Abans' net leverage due to improvements in the operating environment and its margins, which Fitch considers sustainable in the medium term.
The outlook is also supported by Fitch's expectations that Abans' capex and investments are likely to be minimal in the medium term, which would help sustain improvement in its leverage.
Abans' leverage, as measured by lease-adjusted net debt/operating EBITDAR (excluding Abans Finance PLC), improved to 6.48x in the financial year ended March 2015 (FY15) from 8.04x in FY14, supported by strong top-line growth and a wider EBITDAR margin.
www.dailynews.lk
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