Fitch affirms Singer Finance

Fitch Ratings said it affirmed Singer Finance (Lanka) plc's national long-term rating at BBB(lka).

The outlook is stable.

The agency also affirmed the company’s senior debentures at BBB(lka).

The rating of Singer Finance reflects its small franchise and heightened risk appetite at a time when operating conditions are likely to stay challenging, which may exert pressure on some of its financial metrics, Fitch said.

The agency said it expects the company’s asset quality to remain under pressure from challenging operating conditions and exposure to customers who are more susceptible to economic downturns.

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