Fitch Ratings has assigned
The final rating is the same as the expected rating assigned on
Key Rating Drivers
The proposed debentures will mature in five years and will be listed on the
The senior unsecured debentures are rated at the same level as Siyapatha's National Long-Term Rating in accordance with Fitch's criteria. This is because the issue ranks equally with the claims of the company's other senior unsecured creditors.
Fitch affirmed Siyapatha's National Long-Term Rating on
Siyapatha's rating reflects Fitch's expectation that parent,
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade
A downgrade of Siyapatha's National Long-Term Rating would lead to a downgrade of the senior debt rating.
Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade
An upgrade of Siyapatha's National Long-Term Rating would lead to an upgrade of the senior debt rating.
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
Public Ratings with Credit Linkage to other ratings
Siyapatha's rating is driven by
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