Fitch ups Singer notes

Fitch Ratings said it upgraded Singer (Sri Lanka) plc's senior unsecured notes national long-term rating to A(lka) from A-(lka).

The outlook is stable.

The upgrade reflects the improvements in Singer's financial performance, including its liquidity, sales, costs and interest rates, over the nine months ended Sept. 30, Fitch said.

As of Sept. 30, Singer's debt-to-operating EBITDAR was 3.3 times.

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