Fitch rates Lanka ORIX BBB+(lka)

Fitch Ratings said it assigned a national long-term rating of BBB+(lka) to Lanka ORIX Finance Co. Ltd.

The outlook is stable.

The principal factor supporting the company's rating is the strong implied support assumed to be available from its parent, Lanka ORIX Leasing Co. Ltd., rated A(lka). Lanka ORIX Finance is considered to be strategically important to its parent in terms of broadening and diversifying its funding base, the agency said. Though special leading companies are prohibited from raising deposits, no such restriction is imposed on registered finance companies like Lanka ORIX Finance, Fitch added. Fitch said it is of the view that Lanka ORIX Finance will enjoy a high degree of business and financial support from its parent.

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