Fitch affirms People's Leasing

Fitch Ratings said it affirmed People's Leasing Co. Ltd.'s national long-term rating at A-(lka), along with its BBB+(lka) rating on the company's LKR1 billion subordinated debenture issue and simultaneously withdrew the rating.

The outlook is stable.

The affirmation reflects the company's relatively good financial profile and dominant market position as one of the largest specialized leasing companies in Sri Lanka, Moody's said.

The rating also reflects its good access to institutional funding, underpinned by the strength of its parent, the state-owned People's Bank, the agency said.

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