Fitch rates Senkadagala debt BBB(lka)

Fitch Ratings Lanka said it assigned Senkadagala Finance plc's (BBB+(lka)/stable) proposed subordinated debentures of up to LKR 1.25 billion a final national long-term rating of BBB(lka).

The debentures have a tenor of up to five years with fixed coupons.

The proposed debentures are rated one notch below Senkadagala's national long-term rating of BBB+(lka) to reflect their gone-concern loss-absorption quality in the event of a liquidation, in line with Fitch's criteria for rating such securities.

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