Bimputh Lanka Investments gets BB rating

RAM Ratings Lanka has assigned the long and short - term financial Institution ratings of BB and NP to Bimputh Lanka Investment Ltd (BLI) the long-term rating carries a stable outlook.

The ratings are supported by the company's good asset quality, healthy funding mix and strong capital cushioning. Moreover the ratings are upheld by the financial flexibility and operational synergies derived from its shareholders. The ratings are constrained by BLI's small size and short operating history.

Established in 2007 BLI is a registered finance company and is under the purview of the Central Bank.

The company is a part of the Daya Group, a large diversified conglomerate. Sevenagala Sugar Industries Ltd (SSI) a wholly owned subsidiary of Daya Group is BLI's largest shareholder with a 34.6 per cent stake in the company.

The remainder of the shares are held by other subsidiaries of the Daya Group as well as its founder Daya Gamage and his family members.