LRA withdraws EAP Broadcasting Company ratings

Thursday, 18 June 2015 00:00 - - {{hitsCtrl.values.hits}}

Lanka Rating Agency (LRA), former RAM Rating Lanka, has withdrawn EAP Broadcasting Company Ltd.’s, respective long-and short-term corporate credit ratings of BBB and P3.

LRA has concurrently; withdrawn the BBB long-term issue rating of the company’s proposed Rs. 3 billion Listed Rated Redeemable Debentures (2015/2020) (with a sinking fund mortgaged in favour of the trustee).

“Both the long-term ratings were on stable outlook.

The ratings have been withdrawn upon the request of the management,” LRA said in a statement.

LRA’s technical partner is CRISIL India. CRISIL is a global analytical company providing ratings, research, and risk and policy advisory services.

CRISIL is India’s leading ratings agency and is also the foremost provider of high-end research to the world’s largest banks and leading corporations. CRISIL’s majority shareholder is Standard and Poor’s (S&P). S&P, a part of McGraw Hill Financial (formerly The McGraw-Hill Companies), is the world’s foremost provider of credit ratings.