logo
Lanka Rating Agency
Press Release
Date
08-May-24

Analyst
Imran Iqbal
imran@lra.com.lk
+94 114 500099
www.lra.com.lk

Applicable Criteria

  • Methodology | Holding Company Rating | Jun-22

Related Research

  • Sector Study | Holding Company | Mar-24

Disclaimer
This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to LRA

LRA Withdraws Entity Rating of Softlogic Capital PLC

Rating Type Entity
Current
(08-May-24) 		Previous
(17-Apr-23)
Action Withdraw Initial
Long Term - BBB-
Outlook Stable
Rating Watch - -

Subsequent to the management's decision to discontinue the Entity Rating of Softlogic Capital PLC, LRA withdraws the Entity Rating of Softlogic Capital PLC with an immediate effect.

About the Entity
Softlogic Capital PLC ("the Company"), is a Public Limited Company incorporated under the Companies Act No. 17 of 1982 and re-registered under the Companies Act No. 07 of 2007 in 2007. The registered office of the Company is located at Level 16, One Galle Face Tower, Colombo 02. The Company's Board of Directors consists of 7 Non-Executive Directors, which includes 03 Independent Directors. Mr. Ashok Pathirage, who is the Chairman of the Board, oversees the operations at the HoldCo group level, i.e., Softlogic Holdings PLC.

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.