Fitch Ratings has assigned Abans PLC’s (Abans; BBB+(lka)/Stable) proposed senior unsecured redeemable debenture issue a final National Long-Term rating of ‘BBB+(lka)’.
The final rating is the same as the expected rating assigned on November 6, 2019, and follows the receipt of documents conforming to information already received other than the amount of the debenture.
The proposed debentures totaling up to Rs 350 million will be listed on the Colombo Stock Exchange, have a fixed coupon rate with a tenor of five years, and the proceeds will be used to refinance part of the existing debt.
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