‘F1 (lka)’ for LOLC’s proposed commercial paper issue
LOLC’s (Lanka ORIX Leasing Company PLC) proposed commercial paper
issue was rated ‘F1 (lka)’ by Fitch Rating, indicating the strongest
capacity for timely payment.
“The rating reflects the absence of an adverse shift in the
maturities of LOLC’s interest bearing assets and liabilities, and the
company’s relatively good access to bank borrowings,” Fitch said in a
statement.
The proposed issuance of the commercial paper for which an F1 rating
is assigned to LOLC, reflects that the company has the lowest default
risk relative to all others within the country.
LOLC, a premier Total Financial Solutions Provider in Sri Lanka
pioneered the concept of Leasing and Factoring to the country which
immensely contributed towards the development of the SME sector.
CEO/Managing Director of the LOLC Group, Kapila Jayawardena said “We
are proud to receive an ‘F1 (lka)’ by Fitch Rating as it reflects the
strength and stability of the organization.
Careful management of the portfolio through sound credit practices
and risk mitigation strategies, a healthy product mix and the continued
confidence of customers in LOLC as a provider of Total Financial
Solutions as well as the effort of its committed staff members are the
key factors for our success.”
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