Financial Times

Central Finance A+ ( LKA) rating reaffirmed


The Central Finance Company PLC (CF) has received the best rating amongst the registered finance companies, according to Fitch Ratings Lanka which affirmed the company's National Long-term rating at 'A+ (lka)'.

A company spokesman said that Central Finance has proved its strong financial position, good asset quality, solvency and strong capital position relative to peers in the financial sector.

CF currently has shareholder funds of Rs.6.6 billion as at end September 2008. Profit after tax has exceeded a billion rupees in the past three years recording Rs 1,048 million in 2007/08, increasing from Rs 1,024 million in the previous year. Fitch said, "Well-defined credit policies and stringent recovery procedures have translated into asset quality that is amongst the best in the Registered Finance Company (RFC) sector in Sri Lanka."

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