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Lanka Rating Agency
Press Release
Date
10-Jan-24

Analyst
Rabiya tul Athaviya Naushard
rabiya@lra.com.lk
+94 114 500099
www.lra.com.lk

Applicable Criteria

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LRA Withdraws Stability Rating of NAMAL High Yield Fund

Rating Type Stability
Current
(10-Jan-24) 		Previous
(18-Mar-22)
Action Withdraw Initial
Long Term - A-(f)
Outlook Stable
Rating Watch - -

Subsequent to the management's decision to discontinue the Stability Rating, LRA withdraws the Stability Rating of NAMAL High Yield Fund with an immediate effect.

About the Entity
National Asset Management Limited ("NAMAL" or "the Company"), licensed by the Securities and Exchange Commission of Sri Lanka, is the pioneer investment Unit Trust management company in Sri Lanka established in 1991 with 30 years of experience. NAMAL is a subsidiary of Union Bank of Colombo PLC, and includes FCC Bank PLC and Ennid Capital (Pvt) Limited as shareholders. NAMAL operates five Unit Trusts and also offers private portfolio management services.

The primary function of LRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. LRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. LRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.