Feb 25, 2008 (LBO) – Credit rating agency Lanka Ratings was re-branded as RAM Ratings (Lanka) Limited following a reorganization of its Malaysian parent company RAM Holdings Berhad, Monday. RAM Holdings, an affiliate of the world’s largest ratings agency Standard and Poor’s (S&P), plans to expand regionally following the re-branding process.
Suresh Menon, executive director of RAM Holdings, told reporters support and resources for RAM (Lanka) would come from Malaysia as well as internationally.
RAM Ratings was also recognized by the Central Bank of Sri Lanka as an External Credit Assessment Institution (ECAI) under the Basel II framework, RAM Ratings Lanka said in a statement.
“We leverage on the Malaysian experience of developing the market to come out with clear and supportive guidelines for the regulators (in Sri Lanka).”
The company has drawn up a ten year capital market master plan for Sri Lanka which is based on the Malaysian model.
RAM Ratings has also changed its rating standards in line with S&P’s, the company said.