MTD Walkers’ credit rating downgraded

ICRA Lanka Ltd. has revised the issuer rating assigned to MTD Walkers PLC to C from B- with a negative outlook.

ICRA Lanka has also revised the issue rating assigned to MTD’s senior unsecured redeemable debenture program of Rs. 3 billion to C from B- with a negative outlook.

ICRA Lanka has also suspended both ratings as the company has not provided the requisite information to carry out surveillance of these ratings.