LOLC’s (Lanka ORIX Leasing Company PLC) proposed
commercial paper issue was rated ‘F1 (lka)’ by Fitch Rating, indicating
the strongest capacity for timely payment. "The rating reflects the
absence of an adverse shift in the maturities of LOLC’s interest bearing
assets and liabilities, and the company’s relatively good access to bank
borrowings," Fitch said in a statement. The proposed issuance of the
commercial paper for which an F1 rating is assigned to LOLC, reflects that
the company has the lowest default risk relative to all others within the
country.
LOLC, a premier Total Financial Solutions Provider in Sri Lanka
pioneered the concept of Leasing and Factoring to the Country which
immensely contributed towards the development of the SME sector. Being a
leading financial services conglomerate in the country the LOLC Group
offers a range of financial solutions such as Factoring & Working Capital,
Insurance, Fixed Deposits & Savings, NRFC & RFC Accounts, Leasing, Fleet
Management, Agro & Micro Finance, Pawn Broking, Stock Brokering, Islamic
Finance, and also non-financial solutions such as IT Services, Project
Development, Real Estate and Forestry. The strength of the LOLC Group is
its Principal, ORIX Corporation of Japan, which is the world’s largest
leasing company and Japan’s second largest financial services provider,
and the global ORIX network, which spans across 26 countries in Asia,
Oceania, Europe, United States, the Middle East and North Africa.
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