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Message: <blockquote data-quote="thushana" data-source="post: 27658407" data-attributes="member: 290585">Fitch Ratings - Singapore/Colombia/Mumbai - 26 Apr 2022: Fitch Ratings has placed the National Long-Term Ratings of 12 Sri Lankan non-bank financial institutions (NBFIs) on Rating Watch Negative (RWN). The entities are:Finance and Leasing Companies:- Bimputh Finance PLC (Bimputh)- CBC Finance LTD (CBCF)- Central Finance Company PLC (CF)- Fintrex Finance Limited (Fintrex)- HNB Finance PLC (HNBF)- LB Finance PLC (LB)- Mercantile Investments and Finance PLC (MIF)- People's Leasing & Finance PLC (PLC)- Sarvodaya Development Finance Limited (SDF)- Senkadagala Finance PLC (Senka)- Siyapatha Finance PLC (Siyapatha)Securities Firm:- Asia Securities (Pvt) Ltd (ASPL)The RWN reflects heightened downside risks to the NBFIs' credit profiles amid increased economic and financial-market volatility in Sri Lanka. This risk is exacerbated by the deteriorating sovereign credit profile (Long-Term Foreign-Currency Issuer Default Rating (IDR): C, Long-Term Local-Currency IDR: CCC) and the ensuing risks to the stability of the financial system.Fitch will review the National Ratings of financial-institution subsidiaries of Sri Lankan corporates that are not included above separately, if needed.<a href="https://www.fitchratings.com/research/structured-finance/fitch-places-12-sri-lankan-non-bank-financial-institutions-on-rating-watch-negative-26-04-2022" target="_blank">https://www.fitchratings.com/research/structured-finance/fitch-places-12-sri-lankan-non-bank-financial-institutions-on-rating-watch-negative-26-04-2022</a></blockquote>

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