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27 June, 2012 07:04 AM Source: News360.lk
Fitch Ratings.jpg

Sri Lanka’s Sinhaputhra Finance PLC’s rating ‘Outlook’ has been revised from ‘Negative’ to ‘Stable’ by Fitch Ratings Lanka.
The firm’s National Long-Term rating has been affirmed at ‘B(lka)’.

Fitch says, the outlook revision and affirmation reflect improvements in SFL’s credit risk management practices and the subsequent stabilization and enhancement in its asset quality, although the latter still remains weaker than its peers’ average.
The agency says, the affirmation also reflects SFL’s weak net non-performing loans /equity ratio and low profitability relative to peers in its rating category.

Below is the full rating release issued by the Fitch

Fitch Ratings-Colombo/Mumbai/Singapore-26 June 2012: Fitch Ratings Lanka has revised Sinhaputhra Finance PLC’s (SFL) Outlook to Stable from Negative. Its National Long-Term rating has been affirmed at ‘B(lka)’.

The Outlook revision and affirmation reflect improvements in SFL’s credit risk management practices and the subsequent stabilisation and enhancement in its asset quality, although the latter still remains weaker than its peers’ average. The affirmation also reflects SFL’s weak net non-performing loans (NPLs)/equity ratio and low profitability relative to peers in its rating category. More...

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