Fitch Ratings has affirmed Sir Lanka Telecom PLC’s (SLT) National Long-Term Rating at ‘AA+(Ika)’.
The outlook is negative. We have also affirmed the National Ratings on SLT’s outstanding senior unsecured debentures at ‘AA+(lka)’.
The Negative Outlook on SLT’s rating reflects the Outlook on the Sri Lanka’s Long-Term Foreign and Local-Currency Issuer Default Ratings (IDRs).
Strong State Linkages: SLT’s ratings are constrained by the sovereign’s as per Fitch’s Parent and Subsidiary Rating Linkage criteria, as the state holds a majority stake in SLT directly and indirectly, and exercises significant influence on its operating and financial profiles.
“We assess the relationship between the sovereign and SLT as one of a weaker parent and stronger subsidiary with strong operational and strategic linkages.”
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