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| Sunday, 23 February 2003 |
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Aitken Spence debentures get SL AA rating The Rs. 400 million unsubordinated unsecured redeemable debenture issue of Aitken Spence and Company Limited, listed on the Colombo Stock Exchange, has been affirmed an SL AA rating by Fitch Ratings Lanka Ltd (FRL). The Rating Outlook has been revised to Stable. The SL AA rating denotes a very low expectation of credit risk. It indicates strong capacity for timely payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events. FRL said that Aitken Spence's rating reflects its strong position in the tourism and cargo logistics segments and the stable returns from the power segment. The change in the rating outlook from Negative to Stable reflects the steady earnings from power projects and the ongoing peace process and its impact on the local tourism industry. Key rating concerns include the uncertainty surrounding the global tourism industry and possible impediments to the peace process. |
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