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DateLine Tuesday, 28 April 2009

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‘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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