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Fitch Rates People’s Leasing Debenture Issue at BBB+(lka)

1 report, 1 independent Updated Sep 1
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What happened

Some supportReported by 1 outlet

Fitch Ratings assigned a National Long-Term Rating of ‘BBB+(lka)’ to a debenture issue proposed by People’s Leasing & Finance PLC in the Sri Lankan financial market. The initial issue comprises 50 million debentures with a fixed interest rate of 13.75% per annum, with a maximum potential raise of Rs. 10 billion. People’s Leasing & Finance PLC plans to use the funds to strengthen its Tier 2 capital base and maintain capital adequacy compliance.

From ft.lk

Why it matters

Some supportBrind's analysis of the reports

The rating provides an assessment of the financial health of the proposed debenture issue, which is two notches below the National Long-Term Rating of People’s Leasing & Finance PLC. The successful listing of the debentures on the Colombo Stock Exchange is intended to help the company meet its capital requirements.

From ft.lk

Who's involved

  • FitchAssigned the National Long-Term Rating to the debenture issue.
  • Sri LankaThe location of the financial market where the debentures will be listed.

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Coverage

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