Fitch rates People's Leasing notes A(lka)

Fitch Ratings said it assigned a national long-term rating of A(lka) to People's Leasing Co. Ltd.'s proposed senior debentures of up to 750 million in Sri Lanka rupee.

The issue is rated at the same level as the company's national long-term rating of A(lka).

The outlook is stable.

The proposed instrument will rank pari passu with the company's senior creditors, Fitch said.

The ratings reflect its strong financial profile, which is turn driven by its entrenched market share as Sri Lanka's largest specialized leasing company, the agency said, and its effective risk management systems and controls.

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