Fitch ups Sri Lanka Telecom view to stable

Fitch Ratings said it affirmed Sri Lanka Telecom plc's long-term foreign-currency issuer default rating at B+, along with its local-currency issuer default rating at BB- with a negative outlook, national long-term rating at AAA(lka) with a stable outlook and its senior unsecured notes due 2009 at B+ with a recovery rating of RR4.

The outlook on the long-term foreign-currency issuer default rating was revised to stable from negative.

The outlook change follows the revision of the outlook on the Democratic Socialist Republic of Sri Lanka's foreign-currency issuer default rating to stable from negative, Fitch said.

The ratings continue to be constrained by Sri Lanka's foreign-currency issuer default rating of B+, the agency said.

The ratings continue to reflect the company's established position as an integrated telecom operator with strong market shares in major operating segments, Fitch said.

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