Fitch revises People's outlook to stable

Fitch Ratings Lanka has revised People's Merchant Bank PLC's (PMB) Outlook to Stable from Negative. Its National Long-Term rating has been affirmed at 'BB+(lka)'. The Outlook revision reflects an improvement in PMB's financial profile and the ongoing efforts of the company to continue to improve its financial profile in terms of profitability, asset quality and solvency as indicated by net NPL/equity.