Vallibel Finance debenture rating upgraded
Lanka Rating Agency (LRA) has upgraded Vallibel Finance's long and short-term financial institution ratings from BB+ and NP to BBB- and P3, respectively.
Concurrently, its issue rating of Rs 500 million Unsecured Subordinated Redeemable Debentures (2013/2018) is upgraded to BB+ from BB. Meanwhile, both long-term rating outlooks are reaffirmed at Stable.
The upgrade is premised on the increase in market share of Vallibel in the LFC sector as well as its improved core performance indicators and improved franchise. Meanwhile, the ratings are supported by Vallibel's above average asset quality and performance reflected in indicators that compare better than similar rated industry peers'.
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