Tokyo Cement ‘A’ long term rating confirmed, Sri Lanka

Tokyo Cement ‘A’ long term rating confirmed, Sri Lanka
Published: 06 January 2012

Ram Ratings has confirmed an ’A’ long term rating of Sri Lanka’s Tokyo Cement Plc on its market share and healthy balance sheet but said the industry was cyclical and the firm was not able to immediately pass on costs.

Tokyo Cement has grinding plants and shares half the market with local cement group with the balance 50 per cent split among importers, the rating agency said.