RAM Ratings Lanka said the ratings will be downgraded if Daya Group is unable to retain control of Sevanagala or the issue adversely affects Bimputh’s operations.
"On the other hand, the ratings may be reaffirmed (and the Rating Watch lifted) if the Daya Group successfully retains majority control of Sevanagala or there is a significant improvement in performance indicators."
The full rating report follows:
RAM Ratings Lanka has reaffirmed Bimputh Lanka Investments PLC’s (Bimputh or the Company) respective long- and short-term financial institution ratings at BB and NP. Concurrently, the ratings have been put on Rating Watch (with a negative outlook). This is premised on our concerns over t