Bank Rating

July 18, 2011 (LBO) - RAM Ratings Lanka has confirmed Merchant Bank of Sri Lanka’s (MBSL) long- and short-term financial institution ratings at AA- and P1, a statement said. At the same time, the long-term rating of AA- for the company’s 186.80 million rupee Unsecured Unlisted Public Debentures has also been confirmed.

All the long-term ratings have a stable outlook, the rating agency said. RAM Ratings Lanka has also assigned a short-term rating of P1 to the company’s proposed 500 million rupee Unsecured Commercial Paper Programme.

The full text of the statement follows:

RAM Ratings Lanka has reaffirmed Merchant Bank of Sri Lanka’s (MBSL or the Company) long- and short-term financial institution ratings at AA- and P1, respectively. At the same time, the long-term rating of AA- for the Company’s LKR 186.80 million Unsecured Unlisted Public Debentures (2007/2011) has also been reaffirmed. All the long-term ratings have a stable outlook. Meanwhile, RAM Ratings Lanka has assigned a short-term rating of P1 to the Company’s proposed LKR 500 million Unsecured Commercial Paper Programme (2010/2011).

All the ratings are supported by MBS