Fitch Ratings has affirmed Sri Lanka Telecom PLC’s (SLT) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at ‘B+’ and its National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.
Fitch has also affirmed the ‘AAA(lka)’ national rating on the company’s Rs. 7 billion debt programme. SLT’s senior unsecured debt of up to LKR7 billion is rated at the same level as its National Long-Term Rating as the debentures rank equally with other senior unsecured obligations.
SLT’s IDRs are constrained by Sri Lanka’s IDRs (B+/Stable), per Fitch’s Government-Related Entities Rating Criteria, as the state holds a majority stake in SLT directly and indirectly, and exercises significant influence on its operating and financial profile.
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