"The revision of the outlook is underpinned by BFL’s heightened exposure to equity investments, which has increased its vulnerability to market risk and eroded its liquidity levels, as well as rising overheads driven by its branch expansion," it said.
The rating agency said the ratings are supported by the "sturdy franchise" of the Bartleet Group and the company’s moderate funding and capitalisation levels.
The full rating report follows:
RAM Ratings Lanka has reaffirmed Bartleet Finance PLC’s (BFL or the Company) respective long- and short-term financial institution ratings at BBB- and P3. Simultaneously, the long-term issue rating of BFL’s LKR 204 million Unsubordinated Unsecured Redeemable Debenture (2011/2016) has also been reaffirm