Fitch Ratings has affirmed and withdrawn Vallibel Finance

salt

salt

Vice President - Equity Analytics

Posts : 1345
Equity Stars : 8010
Reputation : 90
Join date : 2011-01-31

Fitch Ratings Lanka has affirmed and simultaneously withdrawn Sri Lanka-based Vallibel Finance PlC's (VFL) National Long-Term rating at 'BB-(lka)'. The Outlook is Negative.

worthiness

worthiness

Senior Vice President - Equity Analytics

Posts : 2577
Equity Stars : 9138
Reputation : 115
Join date : 2011-04-08

What kind of indicators & paraphernalia that Fitch ratings used for measuring the long term rating. Also, it is confusing the affirmation & withdrawal given simultaneously.

Redbulls

Redbulls

Director - Equity Analytics

Posts : 6053
Equity Stars : 16262
Reputation : 770
Join date : 2012-02-14

Sri Lanka’s Vallibel Finance’s BB-(lka) rating has been affirmed and simultaneously withdrawn by Fitch Ratings Lanka.
The Outlook is Negative.

Fitch says, it has withdrawn the rating as VFL has chosen to stop participating in the rating process.

“Therefore, Fitch will no longer have sufficient information to maintain the rating. Accordingly, Fitch will no longer provide ratings or analytical coverage for VFL”, added the rating agency in a release issued.

It says, Vallibel Finance’s rating and outlook reflect its small but rapidly growing asset base which has expanded nearly five-fold since March 2010, its modest profitability and a developing franchise.

“Deterioration in asset quality indicators, along with comparatively weak capitalisation, is also a risk. Elevated liquidity pressures are a risk for all finance companies in Sri Lanka, including VFL”, adds Fitch Ratings.
http://www.news360.lk/business-finance/news-debt-sri-lanka%E2%80%99s-04-04-2013-vallibel-finance%E2%80%99s-%E2%80%98bb-lka%E2%80%99-rating-affirmed-and-withdrawn-by-fitch-8890786

D.G.Dayaratne

D.G.Dayaratne

Senior Vice President - Equity Analytics

Posts : 2037
Equity Stars : 8917
Reputation : 57
Join date : 2011-12-13
Location : Kotte

Even Fitch rating was not able to Identify the problem in advance

Hoe can we depend on SL Central Bank statements wich make politically bias Forcastings

salt

salt

Vice President - Equity Analytics

Posts : 1345
Equity Stars : 8010
Reputation : 90
Join date : 2011-01-31

meaning, this busines goes from Fitch to other rating agencies
you know KDDP is in a raw with Fitch over Hayleys Rating

seek

seek

Senior Manager - Equity Analytics

Posts : 558
Equity Stars : 5191
Reputation : 21
Join date : 2012-07-13

I didn’t believe that VFIN will have to face some issues. If current trend (high interest rates and vehicle tax) continues further then other minor finance companies will also be in trouble.

Sponsored content

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Name*:
Phone number:
Email address*:
Comments*:
* - required fields	Learn

Latest topics

Fitch Ratings has affirmed and withdrawn Vallibel Finance

1 Fitch Ratings has affirmed and withdrawn Vallibel Finance Thu Apr 04, 2013 12:59 pm

salt

2 Re: Fitch Ratings has affirmed and withdrawn Vallibel Finance Thu Apr 04, 2013 1:14 pm

worthiness

3 Sri Lanka’s Vallibel Finance’s ‘BB-(lka)’ rating, affirmed and withdrawn by Fitch Thu Apr 04, 2013 1:41 pm

Redbulls

4 Re: Fitch Ratings has affirmed and withdrawn Vallibel Finance Thu Apr 04, 2013 1:45 pm

D.G.Dayaratne

5 Re: Fitch Ratings has affirmed and withdrawn Vallibel Finance Thu Apr 04, 2013 2:35 pm

salt

6 Re: Fitch Ratings has affirmed and withdrawn Vallibel Finance Thu Apr 04, 2013 3:53 pm

seek

7 Re: Fitch Ratings has affirmed and withdrawn Vallibel Finance

Sponsored content

New topics