Fitch downgrades Bimputh Finance to ‘BB-(lka)’; outlook stable

July 12, 2019 (LBO) – Fitch Ratings Lanka has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘BB-(lka)’ from ‘BB(lka). The Outlook is Stable.

The downgrade stems from a sharp deterioration in Bimputh’s capital position, which they believe is no longer commensurate with its high-risk appetite.

This is due to the significant decline in asset quality and sustained fall in pre-impairment operating profitability.