Fitch plans to withdraw ratings of Kotagala Plantations
Lanka Business Online , 2020-08-27
Jul 27, 2020 (LBO) – Fitch Ratings plans to withdraw the ratings of Kotagala Plantations PLC for commercial reasons on or about 21 August 2020, which is approximately 30 days from the date of this commentary.
Fitch currently rates Kotagala Plantations as follows: – National Long-Term Rating at ‘RD(lka)’ – Senior secured rating at ‘C(lka)’ Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient.
Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days’ notice to the market of the rating withdrawal of Kotagala Plantations.
Ratings are subject to analytical review and may change up to the time Fitch withdraws the ratings. Fitch’s last rating action for the entity was on 28 May 2020. The ratings were downgraded.
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