Sunday Observer Online
   

Home

Sunday, 15 July 2012

Untitled-1

observer
 ONLINE


OTHER PUBLICATIONS


OTHER LINKS

Marriage Proposals
Classified
Government Gazette

RAM Ratings Lanka reaffirms MBSL's ratings at AA-/P1

Ram Ratings Lanka reaffirmed Merchant Bank of Sri Lanka (MBSL) long and short term ratings at AA - and P1 concurrently the long term rating of the company's Rs. i million senior unsecured Redeemable debentures (2011/2015) and the short term rating of its Rs. 500m unsecured commercial paper (2011/2012) have been reaffirmed at AA-and Pl. Ram Ratings Lanka has assigned a short term P1 rating to MBSL's proposed Rs. 1 b. Commercial paper (2012/2013). All the long term ratings have a stable outlook.

The ratings are supported by MBSL's strong capitalisation and the financial flexibility derived from its parent, the state owned BoC. The ratings are weighed down by the Company''s weak asset quality.

MBSL is a 72 percent owned subsidiary of BoC and is a medium sized specialised leasing company that accounted for 7.41 percent of the industry's asset base as at end of 2011. The MBSL group asset base stood at Rs. 19.24b as at December 2011.

Although MBSL had intended to merge with MCSL and Ceylease Financial Services Ltd and convert to a licensed specialised bank these plans have now been shelved. MBSL has entered into an agreement with a consortium of investors to dispose of its interest in MBSL Savings Bank. The sale is anticipated to be completed shortly.

EMAIL |   PRINTABLE VIEW | FEEDBACK

Millennium City
Casons Rent-A-Car
Vacncies - www.jobs.shumsgroup.com
www.news.lk
www.defence.lk
Donate Now | defence.lk
www.apiwenuwenapi.co.uk
LANKAPUVATH - National News Agency of Sri Lanka
Telecommunications Regulatory Commission of Sri Lanka (TRCSL)
www.army.lk
 

| News | Editorial | Finance | Features | Political | Security | Sports | Spectrum | Montage | Impact | World | Obituaries | Junior | Magazine |

 
 

Produced by Lake House Copyright © 2012 The Associated Newspapers of Ceylon Ltd.

Comments and suggestions to : Web Editor