LKCSE Colombo Stock Exchange Close
  • Current Exchange
    Colombo Stock Exchange LKCSE

Market time
Black
White

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
19 March, 2013 10:32 AM Source: News360.lk
Fitch Ratings.jpg

Sri Lanka-based Multi Finance PLC’s Outlook has been revised to Negative from Stable, by Fitch Ratings.

At the same time, the agency has affirmed MFP’s National Long-Term rating at ‘B+(lka)’.

Fitch says, the revision of the Outlook reflects MFP’s weakening liquidity profile and net losses due to higher borrowing costs and increased operating expenses driven by branch expansion and relocation.

It also says, the net losses in nine months ending December-2012 have also resulted in sharply decreasing capitalisation which, however, remains commensurate with some of the higher-rated peers.

“The ratings also reflect the company’s small asset size and less established, but growing, franchise relative to that of domestic peers”, the agency added in its rating release.

Below is the full rating release issued by Fitch

Fitch Ratings-Colombo/Seoul/Singapore-18 March 2013: Fitch Ratings Lanka has revised Sri Lanka-based Multi Finance PLC’s (MFP) Outlook to Negative from Stable. At the same time, the agency has affirmed MFP’s National Long-Term rating at ‘B+(lka)’.

Rating Action Rationale More...

Read Original Article

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login

Stocks in Focus


Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
and
Many more


Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014

Login

Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?