Fitch affirms Lanka Orix Finance

Fitch Ratings said it affirmed Lanka Orix Finance Co. Ltd.'s national long-term rating at BBB+ (lka). The outlook is stable.

The rating factors in the strong implied support assumed to be available from its parent, Lanka Orix Leasing Co. plc, which is rated A(lka) with stable outlook. In addition to sharing a common customer and brand franchise, the company benefits from the operational synergies of integration with its parent company.

Fitch said it expects profitability to reduce in fiscal year 2008 from its present high due to increased cost of funds and as the company provides for taxation.

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