Sri Lanka Telco outlook improves with new budget: Fitch.
Byline: LBO
Jan 18, 2016 (LBO) - Fitch Ratings has revised the outlook on Sri Lanka's telco sector to stable from negative as the new budget, introduced in December 2015, has scrapped the recurring taxes which could have diluted the industry's EBITDA margin by an average of 6 - 7 percent.
"We believe that Sri Lanka Telecom's and Dialog Axiata's 2016 credit profile will now remain intact - given the ratings headroom to absorb margin dilution and lower cash generation," Fitch Ratings said.
"SLT's and Dialog's 2016 EBITDA margin should dilute by only 100bp-200bp following the budget, due to changes in their revenue...
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