Fitch affirms Central Finance at ‘A+(lka)’ | Daily News Online

September 16, 2014 1:45 PM

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Fitch Ratings Lanka has affirmed Central Finance Company Plc's (CF) National Long-Term Rating at ‘A+(lka)’ with a Stable Outlook. Fitch has also affirmed CF's senior secured and senior unsecured debt at ‘A+(lka) and its subordinated debt at ‘A(lka)'.

CF's rating reflects its strong capitalisation, which is supported by robust profitability and high profit retention. Counterbalancing these strengths are the pressure on loan quality and its low provisioning levels compared with its peers'. The rating also captures CF's high margins, which are supported by the company's strength in raising funds at relatively low rates through the solid franchise developed over a long operating history. CF has historically maintained strong capitalisation.

The company has sufficient unutilised credit lines to fund its maturity mismatches.

CF's senior unsecured debentures are rated in line with CF's National Long-Term Rating of ‘A+(lka)’ as they constitute unsecured and unsubordinated obligations of the company.

ஆதாரம்: dailynews.lk

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