News

Our greatest glory is not in never falling, but in rising every time we fall. - Confucius -

  • LOLC Securities – Venture into success
  • LOLC Securities – Venture into success
  • LOLC Securities – Venture into success
  • LOLC Securities – Venture into success
  • LOLC Securities – Venture into success

news

2018/12/05

Sri Lanka's NSB, PLC downgraded to 'B' on political crisis, falling rupee

Sri Lanka's state-run National Savings Bank and People's Leasing has been downgraded to 'B' from 'B+' by Standard and Poor's, a rating agency due to an ongoing political crisis triggered after Mahinda Rajapaksa was appointed Prime Minister which had pushed up yield on bonds and a weak rupee. "We lowered the long-term issuer credit rating on NSB and PLC to reflect S&P Global Ratings' view that the Sri Lankan banking sector is facing escalated stress following political turmoil, slowdown in pace of reforms, and slower economic growth than we expected," Standard and Poor's said.- Economynext



Read more

Copyright © 2015 LOLC Securities Limited. All Rights Reserved. Website Design, Development & Hosting by eBEYONDS.