RPT-Fitch Affirms and Withdraws Trade Finance & Investments National Rating
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Nov 1 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings Lanka has affirmed and simultaneously withdrawn Sri Lanka-based Trade Finance & Investments PLC (TFI) National Long-Term rating of 'BB+(lka)/stable.
Rating Action Rationale
The rating factors in TFI's high capitalisation and profitability metrics for a small-sized licensed finance company (LFC).The rating is, however, constrained by its limited lending diversity, narrow deposit base and small franchise.
Fitch has withdrawn the ratings as TFI has chosen to stop participating in the rating process.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 TFI.