Fitch Affirms Ceylon Electricity Board at BB+(lka); Outlook Stable

Fitch Ratings has affirmed Ceylon Electricity Board’s (CEB) National Long-Term Rating at ‘BB+(lka)’. The Outlook is Stable. Fitch also affirmed the National Long-Term Rating of CEB’s outstanding senior unsecured debentures at ‘BB+(lka)’.

CEB’s ratings are equalised with the Sri Lankan sovereign rating (Long-Term LocalCurrency Issuer Default Rating CCC-) under Fitch’s Government-Related Entities (GRE) Rating Criteria. This is based on our assessment that there is a very high likelihood that CEB, the country’s monopoly electricity transmitter and distributor, would continue to receive government support.