LOLC Group gets rated by ICRA Lanka

LOLC yesterday announced that parent company LOLC, as well as subsidiaries Lanka ORIX Finance PLC and Commercial Leasing and Finance Ltd., have been independently rated by ICRA Lanka Ltd. since July this year.

ICRA Lanka is a wholly-owned subsidiary of ICRA Ltd., which is an associate of Moody’s Investors Service.

LOLC PLC, Lanka ORIX Finance PLC, and Commercial Leasing and Finance Ltd. were assigned an Issuer Rating of ‘[SL] A-’ with Stable Outlook by ICRA Lanka from July to September this year.

Issuing a statement, LOLC’s Group Managing Director/CEO Kapila Jayawardena said: “Since July this year, we have been rated independently by ICRA Lanka Ltd., and therefore have not consulted any other rating agency for issuer ratings.”