LANKA RATING WITHDRAWS


the Preliminary Debt Instrument Rating of

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Fixed Income Investment II (Pvt) Ltd Trust 9

04-Aug-26

01

Applicable Criteria

Methodology | Debt Instrument Rating | Aug-24

02

Related Research

Sector Study | Capital Markets | Aug-25


03

Analyst

Ruwanthi Sylva | ruwanthi@lra.com.lk
+94 114 500099 | www.lra.com.lk

PRESS
RELEASE

DISCLAIMER

This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to LRA

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Rating Type Debt Instrument
Current
(04-Aug-26) 		Previous
(08-Jan-25)
Action Withdraw Preliminary
Rating - AA
Outlook Stable
Rating Watch - -


Subsequent to the management's decision to dispose of the underlying securities of Fixed Income Investment II (Pvt) Ltd ("FII II" or "the Company") – Trust 9 and settling all related obligations, Lanka Rating withdraws the rating assigned to FII II - Trust 9 with immediate effect.

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About the Entity

FII II was incorporated under the Companies Act No.07 of 2007. The registered office of the Company was situated at level 5, Millennium House, No 46/58, Nawam Mawatha, Colombo 02. The Company was a ~100% owned subsidiary of CAL Holdings Limited ("CALHL" or "the Parent Company"). The ultimate majority ownership of CALHL remains with Mr. W.A.T. Fernando and Ms. Shiromal Cooray through Ashthi Holdings (Pvt.) Limited and Jetwing Travels (Pvt.) Ltd, respectively.


About the Instrument

The FII II issued LKR~2.5 bn of Treasury Bonds on 15th January 2025. At issuance, the bonds carried a remaining tenure of about 4.8 years, with a stated legal maturity date of 15th September 2029. The coupon rate on the bonds was ~11.00%. Following the issuance, the Company sold LKR~2.5 bn of the T. Bonds in the market through primary dealers, Capital Alliance PLC (CALPLC) and HNB Security (HNBS). Investments in these bonds were restricted to CAL Unit Trust funds, specifically the Capital Alliance Investment Grade Fund, the CAL Fixed Income Opportunities Fund, and the Capital Alliance Income Fund. No other investors were permitted to participate.

Lanka Rating Agency Limited

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