Fitch Affirms Sri Lanka's Central Finance at 'A+(lka)'

fitch rating

Fitch Ratings-Colombo-14 November 2013: Fitch Ratings Lanka has affirmed Central Finance Company Plc's (CF) National Long-Term Rating at 'A+(lka)' and assigned its proposed listed senior secured debenture of up to LKR2bn an expected National Long-term Rating of 'A+(lka)(EXP)'. The Outlook is Stable. Fitch has also affirmed CF's senior unsecured debt at 'A+(lka)' and subordinated debt at 'A(lka)'.

The proposed issuance is expected to have a tenor of between three and five years, with a fixed-rate coupon. CF expects to use the proceeds to fund lending growth. The final rating on the debenture is subject to the receipt of final documentation conforming to information already received.

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CF's 2b debenture issue up for grabs from Friday

Central Finance Plc’s Rs. 2 billion rated and listed debenture issue will be up for grabs from Friday, whilst its official opening is on 11th June 2013.

The Colombo Stock Exchange has approved in principle the application from CF for listing the debt securities amounting to Rs. 1 billion for listing on the main board. CF is offering 1 million unsecured, redeemable debentures at an issue price of...

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