History
Sri Lanka Telecom has a long history of over 150 years, having started its operations in 1858 with the establishment of the first Telegraphic Circuit between Galle and Colombo. In the same year it established its first international Telegraph Communication between then called Ceylon, and India. Since then, Sri Lanka Telecom has passed several milestones, including: in 1991 Sri Lanka Telecom became a Corporation and in 1997 the Company was privatised with the collaboration of Nippon Telegraph and Telephone Corporation (NTT)and listed in the Colombo Stock Exchange's Milanka Price Index.
In 2008, NTT sold its stake in SLT to Global Telecommunications Holdings N.V of Netherlands, which currently owns 44.9% stake in Sri Lanka Telecom (SLT) whilst 49.5% is owned by the Government of Sri Lanka and the balance shares remain with the general public.
The company has been given the following ratings by Fitch Rating Lanka: Long Term Foreign Currency Rating - “B+”, Long Term Local Currency Rating - “BB-“, and National Long Term Rating – “AAA(lka)”. In addition to that the company has also been rated by Standard and Poor’s as “B+” for both long term Corporate Credit Rating and Long term Debt Rating, which is one notch above the country’s rating.
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