EAP Holdings appoints RAM Ratings as its credit ratings agency

One of Sri Lanka's leading diversified conglomerates EAP Holdings Ltd appointed RAM Ratings (Lanka) Ltd as its credit ratings agency. The agreement was signed between both parties yesterday at the head office of EAP Holdings Ltd.

EAP Holdings Ltd, is the holding company of ETI Finance Ltd, Swarnamahal Financial Services PLC, EAP Films and Theaters (Pvt) Ltd. EAP Networks (Pvt) Ltd and Swarnamahal Jewellers (Pvt) Ltd. According to EAP Holdings Ltd, Swarnamahal Financial Services PLC is already, a listed company in the Colombo Stock Exchange and the public listing of the other companies in its portfolio are to take place in the near future.

With the appointment of RAM Ratings (Lanka) Ltd as ETI Finance Ltd's rating agency, ETI Finance Ltd, withdrew its agreement with Fitch Ratings, who was its former ratings agency.