RAM Ratings Lanka downgrades Bimputh Lanka ratings

RAM Ratings Lanka has downgraded the long-term financial institution rating of Bimputh Lanka investments PLC from BB to BB - The short-term ratings have been reaffirmed at NP. The rating watch on the company has been lifted and the stable outlook on the long-term rating has been reinstated.

The downgrade reflects the loss of financial land operational synergies derived from Sevanagala Sugar Industries (Pvt.) Ltd., previouslyone of Bimputh's significant counterparts.