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Fitch: Finansa on watch
Fitch Ratings said it placed Finansa PCL's national long- and short-term ratings of BBB-(tha) and F3(tha), respectively, on Rating Watch negative.
The watch reflects further deterioration in the company's financial performance and liquidity profile during the first half of 2012, as well as its continued weak leverage profile, Fitch said.
These factors are increasing risks to the company's already weak and volatile business prospects, extended poor performance and reliance on short-term funding, the agency said.
However, Fitch said it believes that Finansa may consider a capital and liquidity enhancement plan in the near- term which, if successful, would lower the company's liquidity risk and improve its leverage profile.
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