EAP Holdings mulls more listings; goes for RAM Ratings

One of Sri Lanka’s leading diversified conglomerates, EAP Holdings Ltd. has 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 is the holding company of ETI Finance Ltd., Swarnamahal Financial Services PLC, EAP Films and Theaters Ltd., EAP Networks Ltd. and Swarnamahal Jewellers Ltd.

According to EAP Holdings, subsidiary 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 is to take place in the near future.

With the appointment of RAM Ratings as ETI Finance’s rating agency, ETI Finance withdrew its agreement with Fitch Ratings, which was its former ratings agency.