Fitch Ratings Lanka has downgraded Bimputh Finance PLC’s National Long-Term Rating to ‘BB-(lka)’ from ‘BB(lka). The Outlook is Stable.
The downgrade stems from a sharp deterioration in Bimputh’s capital position, which they believe is no longer commensurate with its high-risk appetite.
This is due to the significant decline in asset quality and sustained fall in pre-impairment operating profitability.
