Fitch drops Sinhaputhra Finance

Fitch Ratings said it downgraded Sinhaputhra Finance plc's national long-term rating to B(lka) from BB-(lka).

The outlook is negative.

Although liquidity pressure faced by the company has waned, Fitch noted the significant increase in the regulatory six-month non-performing loans, Fitch said.

The cash flows of its customer base were significantly impacted by the slowing economic environment witnessed since 2008, the agency said.

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