Fitch Ratings has assigned Sri Lanka-based Senfin Asset Management (Private) Limited a first-time National Long-Term Rating of ‘BBB-(lka)’ with a Stable Outlook.
Senfin is a 100%-owned subsidiary of a mid-sized finance and leasing company, Senkadagala Finance PLC (SFCL, BBB(lka)/Stable). The company manages unit trusts and provides discretionary portfolio services for institutional and high-net-worth investors. It was the ninth-largest unit trust manager in Sri Lanka by assets under management (AUM) at end-June 2024, with 1.8% of the sector’s total AUM.
Senfin’s National Long-Term Rating reflects our expectation of extraordinary support from SFCL, if required. This is premised on the subsidiary’s complementary role in SFCL’s diversified financial product strategy, its operational and financial integration with the group, and SFCL’s ability to provide extraordinary support.
The rating also takes into consideration Senfin’s relatively modest financial contribution to its parent.
The post Fitch assigns Senfin Asset Management first-time ‘BBB-(lka)’ rating; Outlook stable appeared first on DailyNews.