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Lanka Ratings, Sri Lanka’s second rating agency, is offering indicative ratings, sector reports and financial tips as it tries to immerse itself in the fledgling debt market. Lanka Ratings, Sri Lanka’s second rating agency, is offering indicative ratings, sector reports and financial tips as it tries to immerse itself in the fledgling debt market. On Tuesday Lanka Rating Agency (LRA) stuck an experimental toe in the islands shallow debt market, with a corporate presentation to the Finance House Association and Primary Dealers. Staff from its technical partner Rating Agency Malaysia (RAM), also caught up with Central Bank officials during a brisk 24 hour visit.

“The market will grow with time and we would like to grow with it,” said Promod Dass, Manager Financial Institutions Ratings, RAM.

LRA is a joint venture between RAM and Key Research & Information Ltd – a member of Ceylinco Consolidated.

Key Research owns 51 percent and RAM 49 percent of the Rs. 34 mn venture.

Sri Lanka’s maiden rating agency Fitch Ratings Lanka has been in operation for over five-years, despite the local capital markets still at a nascent stage.

But the promoters of Lanka Ratin