Leasing specialist, Ceylease Financial Services, has secured a BBB-(sri) national rating for its long term senior debt, from Fitch Ratings Lanka.
A BBB-(sri) or triple B minus rating denotes a low expectation of credit risk. It reflects the firms ability to meet timely payments, but its exposure to external economic changes may impair this capacity, Fitch said in a statement on Wednesday.rn
rnCeylease Financial Services Ltd (CFSLs) rating reflects the improvements in internal operations and asset quality over the last two years, which is expected to be sustained in the future. rn
rnldblquote However the rating is constrained due to CFSLs relatively small size and higher credit risks associated with its core operation of equipment leasing. While the companys client base has larger exposure to corporates, this has resulted in higher credit concentrations and lower margins,
dblquote warns Fitch.
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rnCFSL has a conservative management team, while its risk management compares well with peers. rn
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