Fitch rates Lanka Orix issue F1(lka)

Fitch Ratings said it assigned a national short-term rating of F1(lka) to Lanka Orix Leasing Co. plc's proposed commercial paper issuance of LKR100 million.

The rating reflects the absence of an adverse shift in the maturities of the company's interest bearing assets and liabilities, Fitch said, and the company's relatively good access to bank borrowings.

Fitch said it takes comfort from the availability of unutilized committed facilities for 1.27 times the principal outstanding of commercial paper issuances, including the proposed issuance.

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