FINANCIAL CHRONICLE – Fitch Ratings has officially withdrawn the A(lka) National Long-Term Rating assigned to Sri Lanka’s Ceylon Electricity Board (CEB), which previously held a Stable Outlook. This action follows the dissolution of CEB in March 2026, resulting in the utility no longer existing as a separate entity.
The international ratings agency announced that it will cease all ratings and analytical coverage of CEB, which has been succeeded by six new state-owned companies responsible for electricity generation, transmission, distribution, and system operations.
Fitch noted that CEB’s rating was aligned with that of its parent entity, the Government of Sri Lanka, reflecting the Long-Term Local-Currency Issuer Default Rating (IDR) of CCC+ and a Long-Term Foreign-Currency IDR of CCC+, as per Fitch’s criteria for Government-Related Entities.
Prior to its dissolution, the state-owned CEB was the exclusive provider of electricity transmission and distribution in Sri Lanka, generating over 70 percent of the country’s electricity through its extensive network of hydro and thermal power facilities, as highlighted by Fitch. (Colombo/Apr21/2026)
