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26 January, 2012 07:18 AM Source:
Fitch Ratings.jpg

Fitch Ratings Lanka has affirmed the Vallibel Finance PLC’s National Long-Term rating at ‘BB-(lka)’.

The Outlook of the firm is Stable.

Fitch says Vallibel Finance’s rating factors in its small but growing asset base, healthy profitability and modest asset quality.
It points out that the rating is constrained by VFL’s modest capitalization which is lower than the Fitch-rated RFC average of 17.7% at end-March 2011.

The Rating Agency says sustained improvements in capitalization while maintaining asset quality and profitability following its growth phase may lead to a rating upgrade.

It adds that a further dilution in capitalization below that of its rating peers could lead to a downgrade of VFL’s rating. More...

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