Sri Lanka’s Senkadagala Finance has become the first entity to go for a dual credit rating, when it was rated A3 by Lanka Rating Agency. Sri Lanka’s Senkadagala Finance has become the first entity to go for a dual credit rating, when it was rated A3 by Lanka Rating Agency. Tech savvy Senkadagala, currently carries a BBB+ (sri) rating from Fitch Ratings Lanka Ltd, a unit of Fitch Ratings of USA.
“The ratings reflect Senkadagala’s commendable asset quality, above-average profitability, satisfactory liquidity and sturdy capitalization,” Lanka Ratings said in a statement Tuesday, while assigning a stable outlook.
Set up in 1968, Senkadgala Finance Company’s core business lies in leasing and offering higher purchase schemes to motor vehicles. The firm operates out of eight branches, all linked via online realtime network, which facilitates centralized monitoring and control.
Lanka Ratings is fully owned subsidiary of Rating Agency Malaysia or RAM. The Malaysian unit is also an affiliate of Standard & Poor’s, the world’s largest rating agency
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