ICRA Lanka Limited has assigned the issuer rating of [SL]BBB+ (Pronounced SL triple B plus) with Stable outlook for Senfin Asset Management (Pvt) Limited (SENFIN or the Company).
ICRA Lanka has taken the consolidated view of SENFIN and its parent company Senkadagala Finance PLC (SENK), given the significant strategic and operational linkages between them. Senfin Asset Management (PVT) Limited is a 100% owned subsidiary of Senkadagala Finance PLC.
The rating primarily factors the Senkadagala Group’s position as an established financial institution with a vintage of over 50 years, with its established market presence with an extensive branch network. The rating also factors in the fairly secured lending profile, with 100% asset-backed exposures, well-diversified funding profile, and the comfortable capitalization profile of SENK.
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