Sri Lankas second rating agency, Lanka Ratings is expecting to start operations in late October.
Ceylinco Group owns a controlling 51% stake in the company, which is a joint venture with Rating Agency Malaysia (RAM).rn
rnRAM officials say a number of safeguards are in place to ensure that rating decisions are independent.rn
rnldblquote The shareholders have no influence what so ever in the rating process or the rating decision
dblquote Datuk C. Rajandram, Rating Agency Malaysia Bhd.
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rnldblquote Rating decisions will be entirely a management process. And we will structure the management to have internal and external rating committees and we will ensure that the final ratings which come to the market are independent, transparent and the methodologies are without the influence of share holders,
dblquote he says.rn
rnRatings arrived at by the local analysts will first be reviewed by a domestic ratings committee and then reviewed again by a second external committee, made up of i