LOLC said this week that its parent company LOLC as well as subsidiaries, Lanka ORIX Finance PLC and Commercial Leasing & Finance Ltd, have been independently rated by ICRA Lanka Ltd since July this year. ICRA Lanka Ltd is a wholly owned subsidiary of ICRA Ltd, which is an associate of Moody’s Investors Service, the [...]

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LOLC Group now rated by ICRA Lanka

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LOLC said this week that its parent company LOLC as well as subsidiaries, Lanka ORIX Finance PLC and Commercial Leasing & Finance Ltd, have been independently rated by ICRA Lanka Ltd since July this year.

ICRA Lanka Ltd is a wholly owned subsidiary of ICRA Ltd, which is an associate of Moody’s Investors Service, the statement said. LOLC PLC, Lanka ORIX Finance PLC and Commercial Leasing & Finance Ltd were assigned an Issuer Rating of ‘[SL] A-’with stable outlook by ICRA Lanka Ltd from July to September this year.

Issuing a statement, LOLC’s Group Managing Director/CEO, Kapila Jayawardena said, “Since July this year, we have been rated independently by ICRA Lanka Ltd, and therefore have not consulted any other rating agency for issuer ratings”.

This follows a statement by Fitch Ratings last week that it was no longer involved in ratings of the LOLC Group because the latter has withdrawn from the contract with Fitch over a disputed rating.




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