ACL Cables gets ICRA (SL) A+ rating | Daily News

ACL Cables gets ICRA (SL) A+ rating

ACL Cables PLC, the No.1 cable company in Sri Lanka has once again showcased its strong financial position and brand equity achieving (SL) A+ stable credit rating for the fourth consecutive year according to ICRA Lanka’srecently published rating outlook.

Impressively, ACL Cables became the only cable manufacturer in the local industry to register an A+ credit rating, demonstrating the company’s stability and creditworthiness amidst challenging business environments.

ACL Cables PLC registered revenues of Rs. 18.8 billion as a group for the financial year ended in March 2020. A profit-after-tax of Rs. 1 billion was also recorded as a group. This was a 64% increase in comparison to the previous year.

Suren Madanayake, Managing Director ACL Cables PLC said, “We are pleased with the latest credit rating published by ICRA Lanka.

This proves our corporate and financial strength even amidst challenging and volatile conditions.