Fitch Ratings has affirmed Sri Lanka-based Lion Brewery (Ceylon) PLC’s National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.
“The affirmation and Stable Outlook reflect our view that Lion’s credit metrics will remain commensurate with its rating over the medium-term, as Sri Lanka’s economic environment continues to stabilise.”
Lion’s incorporation of its Singapore subsidiary, Lion Beer Pte Ltd, extends its overseas activities, and the company expects to continue funding the investment in the medium term, which should facilitate its export operation in south-east Asia.
“We expect revenue from exports to remain around 3%-4% in the medium-term.”
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