Standard & Poor’s to discuss funding opportunities for Sri Lanka’s issuers
Monday, 5 August 2013 22:55
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Sri Lankan issuers have significant opportunities to improve the diversification of their funding sources, says Standard & Poor’s Ratings Services. This topic and current credit trends for Sri Lankan issuers will be discussed at a seminar hosted by Standard & Poor’s on 16 August.
Surinder Kathpalia, Managing Director, Standard & Poor’s Ratings Services, says that more can be done to improve capital market financing in Sri Lanka. “Currently, the corporate debt market in Sri Lanka is very small relative to the Government debt market as well as the equity market. The Securities and Exchange Commission (SEC) of Sri Lanka has outlined a capital market development roadmap which seeks to grow the corporate debt market from US$ 1 billion in outstanding debt at the end of 2012 to US$ 10 billion at the end of 2016.”
Kathpalia explained: “Clearly, a lot needs to be done to achieve the challenging goal of growing Sri Lanka’s corporate debt market ten-fold in the next four years. Sri Lankan issuers, both financial institutions and corporates, will also need alternate sources of funding until the local corporate debt market develops.”
The seminar titled ‘Sri Lanka’s Issuers – A Global Perspective’ will feature a panel discussion with industry leaders discussing financing opportunities for Sri Lanka’s issuers as well as progress and ideas for capital market development, for example, transparency and disclosure. In addition, Standard & Poor’s senior credit analysts will share their views on credit trends for the Sri Lankan sovereign as well as the country’s banks and corporates.
The seminar keynote speaker will be Central Bank of Sri Lanka Governor Ajith Nivard Cabraal.
Presenters include Securities and Exchange Commission of Sri Lanka Chairman Dr. Nalaka Godahewa, , NDB Bank Chief Executive Officer Rajendra Theagarajah, The Finance Company Chairman Preethi Jayawardena, HSBC Sri Lanka and Maldives CEO Patrick Gallagher, Standard & Poor’s Asia-Pacific Financial Institutions Ratings Managing Director Ritesh Maheshwari, Standard & Poor’s Asia-Pacific Sovereign Ratings Senior Director Kim Eng Tan and Standard & Poor’s Asia-Pacific Corporate Ratings Director Mehul Sukkawala.
