Fitch Ratings has affirmed Singer (Sri Lanka)’s National Long-Term Rating at ‘A-(lka)’ with a Stable Outlook.
Fitch has also withdrawn the expected rating assigned to Singer’s proposed senior unsecured debentures as the debt issuance is no longer expected to convert to final ratings in the near future. A full list of rating actions is at the end of this commentary.
Singer’s rating reflects its strong market leadership, extensive product and brand portfolio across different price points and a well-managed hire purchase (HP) business, which gives its business model more stability across economic cycles.
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