Fitch ups Lanka Orix Finance to A-(lka)

Fitch Ratings said it upgraded Lanka Orix Finance Co. Ltd.'s national long-term rating to A-(lka) from BBB+(lka).

The outlook is stable.

The upgrade reflects the increased level of integration with its parent, Lanka Orix Leasing Co. plc., which is rated A(lka) with stable view.

Over the last 12 months the operations of both entities have become closely integrated, functioning almost as if they are a single entity, Fitch said.

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