Ceylon Asset Management responds to Fitch move

Ceylon Asset Management has commented on the Fitch Rating negative watch press release, saying that the LRA suspension by the SEC and the absence of an alternative monitoring process sought by Fitch Ratings was beyond the control of the fund, the fund manager and the underlying listed company security.  

“Under the CSE listing rules, it is mandatory for listed debentures to have a valid rating in order to be listed on the CSE,” Ceylon Asset Management added.