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CEAT Kelani Holdings rated AA+ by Fitch for 4th successive year

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Sri Lanka’s leading tyre manufacturer CEAT Kelani Holdings (CKH) has been assigned a National Long-Term rating of ‘AA+(lka)/Outlook Stable’ by Fitch Ratings for a fourth consecutive year, a rating Fitch said is supported by CEAT’s sustained leadership in the domestic pneumatic tyre manufacturing industry and the resilience of its financial profile.

In its announcement, Fitch Ratings said: “The Stable Outlook reflects Fitch’s belief in CKH’s ability to retain its market share despite increasing competition from imported tyres. It also indicates our expectation CKH will maintain adequate credit metrics and liquidity, even during periods of intensive investment.”

“We believe CKH is well-positioned to benefit from the potential lifting of a vehicle import ban in 2025 due to its strong brand and extensive distribution network,” the rating agency said, but disclosed that “Nonetheless, upside potential in medium- to long-term demand from such an event has not been factored into our rating case due to regulatory uncertainty.”

The AA+ credit rating is the second highest rating assigned by Fitch Ratings to reflect an entity’s ability to meet financial commitments. Key rating drivers for CEAT Kelani Holdings included a recovery in domestic tyre replacement amid a resumption in travel and improved fuel availability.

Commenting on the rating, CEAT Kelani Holdings Chairman Mr Chanaka De Silva said: “The four years in which CEAT Kelani has been rated AA+ represent some of the most tumultuous and challenging times for businesses in Sri Lanka, encompassing as they did, the global pandemic, the country’s economic crisis, the protests, the ousting of a president, and a highly-charged presidential election.



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Business

Ceylinco Life agent among three global finalists for award

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Ceylinco Life’s Ambalantota branch agent AIP Manjula

Ceylinco Life’s Ambalantota branch agent AIP Manjula has been named one of three global finalists for the prestigious Insurance Agent of the Year award at the 11th Asia Trusted Life Agents & Advisers Awards (ATLAA) 2026.

The recognition places a Sri Lankan insurance professional among the finalists in a regional field spanning South Asia, Southeast Asia, East Asia and the wider Asia-Pacific region.

Ceylinco Life said the achievement reflected the calibre and customer-focused approach of its agency force, while recognising Manjula’s professionalism and commitment to policyholders.

The award evaluates insurance agents on criteria extending beyond sales performance, including ethical conduct, client service, policy persistency, digital adoption, innovative practices and contributions to the insurance industry and community.

The awards are organised by Asia Advisers Network and Asia Insurance Review, with LIMRA as co-organiser. An independent judging and balloting process is monitored by KPMG as the official scrutineer. The judging panel comprises senior insurance executives, association presidents and industry experts from across the Asia-Pacific region.

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CEAT Kelani retains AA+ rating for sixth year

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CEAT Kelani Holdings (CKH) has retained its National Long-Term Rating of ‘AA+(lka)’ with a Stable Outlook from Fitch Ratings for the sixth consecutive year, reflecting the company’s financial resilience and leading position in Sri Lanka’s pneumatic tyre market.

The ‘AA+(lka)’ rating, the second-highest on Fitch’s national scale, indicates a very strong capacity to meet financial commitments.

Fitch said CKH’s established market leadership and resilient financial profile remained key strengths, while noting its exposure to price-sensitive, cyclical and highly competitive markets.

The Stable Outlook reflects expectations that the company will maintain its market position despite rising input costs and increasing competition from imported tyres, while preserving adequate credit metrics during periods of weaker earnings and higher investment.

Fitch expects CKH’s established brand, extensive dealer network and adaptive pricing strategies to support its market position. Planned production facility upgrades are also expected to improve product quality, particularly in the radial tyre segment.

The rating agency expects near-term pressure on margins from higher raw material and energy costs but said the company’s low leverage and sound liquidity would provide a cushion.

CKH Chairman Chanaka De Silva said the rating reinforced the company’s focus on disciplined financial management, operational adaptability and long-term investment.

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Commercial Bank leads nationwide aquatic clean-up drive

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Sanath Manatunge, Managing Director/CEO of Commercial Bank and some of the Bank’s staff participating in the coastal cleanup programme

Commercial Bank of Ceylon mobilised employees, customers, volunteers and community members for a nationwide coastal and aquatic clean-up campaign across 20 locations on September 19 to mark International Coastal Cleanup Day 2026.

Conducted under the bank’s sustainability platform, themed ‘Forward Together for a Cleaner Future’, the initiative covered 16 coastal locations and four inland waterways, bringing together stakeholders for a coordinated environmental conservation effort.

The flagship programme was held at Mount Lavinia Beach, with additional activities at Wellawatte and Galle Face beaches. Similar initiatives were conducted by the bank’s regional offices at locations including Kalutara, Negombo, Trincomalee, Batticaloa, Puttalam, Jaffna, Galle, Dondra, Tangalle and along the Mahaweli River.

Employees, management, Future Force volunteers, customers and their families participated alongside the Marine Environment Protection Authority (MEPA), United Nations Global Compact Network Sri Lanka, government and local authorities, environmental organisations and community members.

The bank said the initiative reflected its commitment to water stewardship after adopting Sustainable Development Goal 6 — Clean Water and Sanitation — as a priority goal in 2025.

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