MTD Walkers PLC

ICRA Lanka revises and suspends the ratings of MTD Walkers PLC

Instrument* Current Rated Amount Rating Action
Issuer Rating   N/A Revised to [SL]C from [SL]B- with Negative Outlook; Suspended
Senior Unsecured Redeemable Debentures   LKR 3,000 Mn Revised to [SL]C from [SL]B- with Negative Outlook; Suspended

ICRA Lanka Limited, Subsidiary of ICRA Limited, group company of Moody’s Investors Service, has revised the Issuer rating assigned to MTD Walkers PLC (“MTDWP”/“the Company”) to [SL]C (pronounced  SL C )  from [SL]B- (pronounced SL B minus[1]) with Negative outlook. ICRA Lanka has also revised the Issue Rating assigned to the Company’s senior unsecured redeemable debenture programme of LKR 3,000 Mn to [SL]C (pronounced  SL C ) from [SL]B- (pronounced SL B minus[2]) with Negative outlook. Further, ICRA Lanka has suspended both these ratings, as the Company has not provided the requisite information to carry out surveillances of these ratings.   

Links to previous rating rationale:

ANALYST CONTACTS

Mr. Raghunath T,

+91-4445964440

Raghunath.t@icraindia.com

Mr. Danushka Perera,

+94-77-47815

danushka@icralanka.com

RELATIONSHIP CONTACT

Mr. W. Don Barnabas  

+94 11 4339907

wdbarnabas@icralanka.com


[1]For complete rating scale and definitions please refer to ICRA Lanka’s Website www.icralanka.com or other ICRA Rating Publications

[2]For complete rating scale and definitions please refer to ICRA Lanka’s Website www.icralanka.com or other ICRA Rating Publications


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