Ratings

LT Rating  BB+


ST Rating  -

Lanka Rating Maintains Entity Rating of Laxapana PLC

Laxapana PLC
2025-07-11

LT Rating  A+


ST Rating  -

Lanka Rating Assigns Preliminary Debt Instrument Rating of First Capital Holdings PLC - Listed, rated, senior , unsecured, redeemable debenture - LKR 3Bn - 5 years

First Capital Holdings PLC - Listed, rated, senior, unsecured, redeemable debenture - LKR 3Bn - 5 years
2025-07-11

LT Rating  BBB- (ifs)


ST Rating  -

Lanka Rating downgrades IFS Rating of Sanasa Life Insurance Company PLC, Outlook "Negative"

Sanasa Life Insurance Company PLC
2025-07-03

LT Rating  BBB-


ST Rating  -

LRA Downgrades Instrument Rating Sanasa Life Insurance Company PLC - LKR 200mn Senior Unsecured Redeemable Debentures with "Negative Outlook"

Sanasa Life Insurance Company PLC - LKR 200mn Senior Unsecured Debenture
2025-07-03

LT Rating  BB


ST Rating  -

Lanka Rating Maintains Entity Rating of SMB Finance PLC

SMB Finance PLC
2025-07-01

LT Rating  A-


ST Rating  -

Lanka Rating Maintains the Entity Rating of WealthTrust Securities Limited with "Positive" Outlook

WealthTrust Securities Limited
2025-06-25

LT Rating  BBB-


ST Rating  -

Lanka Rating Assigns Preliminary Rating to Janashakthi Finance PLC- Asset Backed Securitization- Gold Loans

Janashakthi Finance PLC – Asset Backed Securitization – Gold Loans
2025-06-25

LT Rating  BBB


ST Rating  -

Lanka Rating Maintains Entity Rating of State Mortgage & Investment Bank, assigns "Rating Watch"

State Mortgage & Investment Bank
2025-06-20

LT Rating  BB-


ST Rating  -

Lanka Rating assigns Preliminary Debt Instrument Rating to Associated Motor Finance Company PLC - Tier 2 - High Yield Bonds

Associated Motor Finance Company PLC - Tier 2 - Listed, Rated, Unsecured, Subordinated, Redeemable High Yield Bonds
2025-06-12

LT Rating  BB


ST Rating  -

Lanka Rating Assigns Debt Instrument Rating to SDF's Listed, Rated, Unsecured, Subordinated, Redeemable, Sustainable High Yield bonds

SDF-Tier II Listed Rated Unsecured Subordinated Redeemable High Yield Sustainable Bonds
2025-06-12

LT Rating  A+


ST Rating  -

Lanka Rating Upgrades Debt Instrument Rating of Alliance Finance Company PLC - Green Bond

Alliance Finance Company PLC - Green Bond
2025-06-06

LT Rating  


ST Rating  A1

Lanka Rating Maintains Debt Instrument Rating of First Capital Holdings - LKR 2.5Bn - Commercial Papers

First Capital Holdings - LKR 2.5Bn - Commercial Papers
2025-06-05

LT Rating  A+


ST Rating  -

Lanka Rating Upgrades Debt Instrument Rating of First Capital Holdings - LKR 2Bn Senior Unsecured Redeemable Debentures

First Capital Holdings - LKR 2Bn Senior Unsecured Redeemable Debentures
2025-06-05

LT Rating  A+


ST Rating  -

Lanka Rating Upgrades the Entity Rating of First Capital Holdings PLC

First Capital Holdings PLC
2025-06-05

LT Rating  AA


ST Rating  -

Lanka Rating Assigns Preliminary Debt Instrument Rating to Fixed Income Investment I (Pvt) Ltd – Trust 10

Fixed Income Investment 1 (Pvt) Ltd - Trust 10
2025-05-30

LT Rating  BBB


ST Rating  -

Lanka Rating Assigns Preliminary Debt Instrument Rating to Alliance Finance PLC's Social Bonds

Alliance Finance Co PLC – Listed, Rated, Unsecured, Senior Social Bonds - 5 years
2025-05-09

LT Rating  BBB


ST Rating  -

Lanka Rating Upgrades Entity Rating of Alliance Finance Company PLC

Alliance Finance Company PLC
2025-05-03

LT Rating  BBB+


ST Rating  -

LRA Maintains Entity Rating of Regional Development Bank

Regional Development Bank
2025-05-02

LT Rating  AA(f)


ST Rating  -

Lanka Rating Upgrades Stability Rating of Ceybank Gilt Edged Fund (A Series)

Ceybank Gilt Edged Fund
2025-04-24

LT Rating  BBB


ST Rating  -

Lanka Rating Maintains Entity Rating of Commercial Credit and Finance PLC, assigns Rating Watch

Commercial Credit and Finance PLC
2025-04-23

LT Rating  AA-


ST Rating  -

Lanka Rating Upgrades Instrument Rating of Commercial Credit and Finance PLC - LKR 1.3bn Guaranteed Debenture

Commercial Credit and Finance PLC - LKR 1.3bn Guaranteed Debenture
2025-04-23

LT Rating  A


ST Rating  -

Lanka Rating Upgrades Entity Rating of Assetline Finance Limited

Assetline Finance Limited
2025-04-17

LT Rating  BB+


ST Rating  -

Lanka Rating Upgrades Entity Rating of Sarvodaya Development Finance PLC

Sarvodaya Development Finance PLC
2025-04-11

LT Rating  BB-


ST Rating  -

Lanka Rating Upgrades Entity Rating of Lanka Credit and Business Finance PLC

Lanka Credit and Business Finance PLC
2025-03-11

LT Rating  -


ST Rating  -

Lanka Rating Withdraws Debt Instrument Rating of First Capital Treasuries - LKR 750mn Subordinated Unsecured Redeemable Debentures

First Capital Treasuries - LKR 750mn Subordinated Unsecured Redeemable Debentures
2025-03-05

LT Rating  A+


ST Rating  -

Lanka Rating Upgrades the Entity Rating of First Capital Treasuries PLC

First Capital Treasuries PLC
2025-03-05

LT Rating  A


ST Rating  -

Lanka Rating Assigns Initial Rating to First Capital Treasuries PLC - Listed, Rated, Subordinated, Unsecured, Redeemable Debenture up to LKR 3Bn

First Capital Treasuries PLC - Listed , Rated , Subordinated, Unsecured, Redeemable Debenture up to 3 Bn - Tenure 5 years
2025-03-05

LT Rating  BB


ST Rating  -

Lanka Rating Upgrades Entity Rating of Associated Motor Finance Company PLC

Associated Motor Finance Company PLC
2025-02-19

LT Rating  BBB-


ST Rating  -

Lanka Rating assigns Initial Entity Rating to Sejaya Micro Credit Limited

Sejaya Micro Credit Limited
2025-02-17

LT Rating  BBB+


ST Rating  -

Lanka Rating Assigns Initial Entity Rating to Amana Bank PLC

Amana Bank PLC
2025-02-11

LT Rating  AA-(f)


ST Rating  -

LRA Assigns Initial Fund Stability Rating to CAL Five Year Closed-end Fund

CAL Five Year Closed End Fund
2025-02-03

LT Rating  -


ST Rating  -

Lanka Rating Withdraws the Debt Instrument Rating of Softlogic Capital PLC - LKR 1.5Bn Listed Senior Unsecured Redeemable Debenture

Softlogic Capital PLC - LKR 1.5Bn Listed Senior Unsecured Redeemable Debenture
2025-01-28

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment I (Pvt) Ltd – Trust 09

Fixed Income Investment I (Pvt) Ltd - Trust 09
2025-01-08

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment I (Pvt) Ltd – Trust 08

Fixed Income Investment I (Pvt) Ltd - Trust 8
2025-01-08

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment II (Pvt) Ltd – Trust 09

Fixed Income Investment II (Pvt) Ltd - Trust 9
2025-01-08

LT Rating  AAA


ST Rating  -

Lanka Rating Maintains Entity Rating of National Savings Bank

National Savings Bank
2024-12-31

LT Rating  AA


ST Rating  -

Lanka Rating Maintains Instrument Rating of National Savings Bank - Additional Tier 1 Perpetual Bonds | LKR 5Bn

National Savings Bank - Additional Tier 1 Perpetual Bonds | LKR 5Bn
2024-12-31

LT Rating  AA+


ST Rating  -

Lanka Rating Maintains Instrument Rating of National Savings Bank – Senior Redeemable Debentures | LKR 11.541 bn

National Savings Bank – Senior Redeemable Debentures | LKR 11.541 bn
2024-12-31

LT Rating  -


ST Rating  -

Lanka Rating withdraws Debt Instrument Rating of National Savings Bank – Senior Redeemable Debentures | LKR 6.323 bn

National Savings Bank – Senior Redeemable Debentures | LKR 6.323 bn
2024-12-31

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment I (Pvt) Ltd – Trust 07

Fixed Income Investment I (Pvt) Ltd - Trust 7
2024-12-26

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment I (Pvt) Ltd – Trust 05

Fixed Income Investment I (Pvt) Ltd - Trust 5
2024-12-26

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment I (Pvt) Ltd – Trust 06

Fixed Income Investment I (Pvt) Ltd - Trust 6
2024-12-26

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment II (Pvt) Ltd – Trust 07

Fixed Income Investment II (Pvt) Ltd - Trust 7
2024-12-26

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment II (Pvt) Ltd – Trust 08

Fixed Income Investment II (Pvt) Ltd - Trust 8
2024-12-26

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment II (Pvt) Ltd – Trust 06

Fixed Income Investment II (Pvt) Ltd -Trust 6
2024-12-26

LT Rating  BBB-


ST Rating  -

Lanka Raing assigns Initial Entity Rating to Asiri Hospital Holdings PLC

Asiri Hospital Holdings PLC
2024-12-19

LT Rating  


ST Rating  -

Lanka Rating withdraws the Entity Rating of CIC Holdings PLC

CIC Holdings PLC
2024-12-16

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment III (Pvt) Ltd – Trust 04

Fixed Income Investment III (Pvt) Ltd Trust 04
2024-12-12

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment I (Pvt) Ltd – Trust 03

Fixed Income Investment I (Pvt) Ltd Trust 3
2024-12-12

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment II (Pvt) Ltd – Trust 04

Fixed Income Investment II (Pvt) Ltd Trust 4
2024-12-12

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment III (Pvt) Ltd – Trust 03

Fixed Income Investment III (Pvt) Ltd Trust 03
2024-12-12

LT Rating  AA


ST Rating  -

LRA Assigns Preliminary Debt Instrument Rating to Fixed Income Investment IV (Pvt) Ltd – Trust 02

Fixed Income Investment IV (Pvt) Ltd Trust 02
2024-12-12

LT Rating  


ST Rating  -

Lanka Rating withdraws the Debt Instrument Rating of Fixed Income Investment II (Private) Limited - LKR 2.7Bn T Bond Securitization

Fixed Income Investment II (Private) Limited - LKR 2.7Bn T Bond Securitization
2024-12-05

LT Rating  


ST Rating  -

Lanka Rating withdraws the Debt Instrument Rating of Fixed Income Investment 1 (Private) Limited - LKR 5.75Bn T Bond Securitization

Fixed Income Investment 1 (Private) Limited - LKR 5.75Bn T Bond Securitization
2024-12-05

LT Rating  


ST Rating  -

Lanka Rating withdraws the Debt Instrument Rating of Fixed Income Investment V (Pvt) Ltd - LKR 06Bn T Bond Securitization

Fixed Income Investment V (Pvt) Ltd - LKR 06Bn T Bond Securitization
2024-12-05

LT Rating  


ST Rating  -

Lanka Rating withdraws the Debt Instrument Rating of Fixed Income Investment III (Pvt) Ltd - TBond securitization LKR 5.052Bn

Fixed Income Investment III (Pvt) Ltd - TBond securitization LKR 5.052Bn
2024-12-05

LT Rating  


ST Rating  -

Lanka Rating withdraws the Debt Instrument Rating of Fixed Income Investment II (Pvt) Ltd - Trust 2 - T Bond Securitization - LKR 03Bn

Fixed Income Investment II (Pvt) Ltd - Trust 2 - T Bond Securitization - LKR 03Bn
2024-12-05

LT Rating  


ST Rating  -

Lanka Rating withdraws the Debt Instrument Rating of Fixed Income Investment II (Pvt) Ltd - Trust 3 T Bond- Securitization - LKR 1200Mn

Fixed Income Investment II (Pvt) Ltd - Trust 3 T Bond- Securitization - LKR 1200Mn
2024-12-05

LT Rating  BBB


ST Rating  -

Lanka Rating Assigns Initial Entity Rating to Brown and Company PLC

Brown & Company PLC
2024-11-18

LT Rating  A


ST Rating  -

Lanka Rating Assigns Initial Debt Instrument Rating to Brown and Company PLC - Guaranteed Redeemable Debentures - LKR 02bn (Maturity 2027)

Brown & Company PLC - Guaranteed Redeemable Debentures - LKR 02Bn (Maturity 2027)
2024-11-18

LT Rating  BBB


ST Rating  -

Lanka Rating Assigns Initial Entity Rating to Asia Securities (Private) Limited

Asia Securities (Pvt) Ltd
2024-11-18

LT Rating  


ST Rating  -

LRA Withdraws the Debt Instrument Rating of Asia Asset Finance PLC LKR 01Bn Asset Backed Secured Debenture (1)

Asia Asset Finance LKR 01bn Asset Backed Secured Debenture (1)
2024-10-29

LT Rating  -


ST Rating  -

Lanka Rating Withdraws the Debt Instrument Rating of Asia Asset Finance PLC LKR 01Bn Asset Backed Secured Debenture (2)

Asia Asset Finance LKR 01bn Asset Backed Secured Debenture (2)
2024-10-29

LT Rating  -


ST Rating  -

Lanka Rating Withdraws the Debt Instrument Rating of Asia Asset Finance PLC LKR 600Mn Asset Backed Secured Trust Certificates

Asia Asset Finance LKR 600mn Asset Backed Secured Trust Certificates
2024-10-29

LT Rating  -


ST Rating  -

Lanka Rating withdraws the Entity Rating of Asia Asset Finance PLC

Asia Asset Finance PLC
2024-10-29

LT Rating  


ST Rating  -

Lanka Rating withdraws Debt Instrument Rating of LOLC Holdings PLC - LKR 05Bn Listed Rated Senior Unsecured Redeemable Debentures

LOLC Holdings PLC - LKR 05Bn Listed Rated Senior Unsecured Redeemable Debenture
2024-10-18

LT Rating  BB+


ST Rating  -

Lanka Rating Assigns Initial Entity Rating to Orient Finance PLC, With a "Positive" Outlook.

Janashakthi Finance PLC
2024-10-11

LT Rating  A


ST Rating  -

Lanka Rating Assigns Initial Debt Instrument Rating to Guaranteed, Redeemable Zero Coupon 3 Year Debenture (Maximum LKR 01 Bn Face Value) of George Steuart & Company Limited.

George Steuart & Company Ltd - Guaranteed Redeemable Zero Coupon 3 Year Debenture - Maximum LKR 01Bn Face Value
2024-10-11

LT Rating  A-(f)


ST Rating  -

LRA Assigns Initial Stability Rating to Ceylon Money Market Fund

Ceylon Money Market Fund
2024-10-10

LT Rating  AA


ST Rating  -

Lanka Rating Assigns Entity Rating to People's Bank

People's Bank
2024-09-06

LT Rating  


ST Rating  -

Lanka Rating Withdraws Instrument Rating of LOLC Finance PLC - LKR 06bn Asset Securitization

LOLC Finance - LKR 06bn Asset Securitization
2024-09-03

LT Rating  


ST Rating  -

Lanka Rating Withdraws Instrument Rating of LOLC Finance PLC - LKR 2.5bn Unsecured Subordinated Redeemable Debentures

LOLC Finance - LKR 2.5bn Listed Debentures
2024-09-03

LT Rating  AA-


ST Rating  -

Lanka Rating Assigns Preliminary Instrument Rating to Bank of Ceylon - LKR 15bn Basel III Compliant, Tier 2, Listed, Rated, Unsecured, Subordinated, Redeemable 5-year Debentures

Bank of Ceylon - LKR 15Bn Basel III compliant - Tier 2 Listed Rated Unsecured Subordinated Redeemable 5 year Debentures with Non-Viability Write-Down
2024-08-29

LT Rating  BBB


ST Rating  -

Lanka Rating Assigns Initial Rating to Vallibel Finance PLC - LKR 3Bn Subordinated, Unsecured, Redeemable Debenture

Vallibel Finance PLC - LKR 3Bn Subordinated - Unsecured - Redeemable Debenture
2024-08-20

LT Rating  


ST Rating  -

Lanka Rating withdraws the Entity Rating of Multi Finance PLC

Multi Finance PLC
2024-08-19

LT Rating  A


ST Rating  -

Lanka Rating Maintains Entity Rating of LOLC Finance PLC, Assigns "Positive" Outlook

LOLC Finance PLC
2024-08-08

LT Rating  A


ST Rating  -

Lanka Rating Maintains Instrument Rating of LOLC Finance PLC - LKR 05bn Unsecured Senior Redeemable Debentures, Assigns "Positive" Outlook

LOLC Finance - LKR 05bn Listed Debentures (Maturity 2025)
2024-08-08

LT Rating  A


ST Rating  -

Lanka Rating Assigns Initial Entity Rating to George Steuart Health (Private) Limited.

George Steuart Health (Private) Limited
2024-08-02

LT Rating  BBB+


ST Rating  -

LRA Maintains Entity Rating of Merchant Bank of Sri Lanka & Finance PLC, outlook "Stable"

Merchant Bank of Sri Lanka & Finance PLC
2024-08-01

LT Rating  BBB


ST Rating  -

LRA Maintains Instrument Rating of Merchant Bank of Sri Lanka & Finance PLC LKR 01bn Unsecured Subordinated Redeemable Debentures (1)

Merchant Bank of Sri Lanka & Finance PLC LKR 01bn Unsecured Subordinated Debenture (1)
2024-08-01

LT Rating  BBB


ST Rating  -

LRA Maintains Instrument Rating of Merchant Bank of Sri Lanka & Finance PLC -LKR 01bn Unsecured Subordinated Redeemable Debentures (2)

Merchant Bank of Sri Lanka & Finance PLC LKR 01bn Unsecured Subordinated Debenture (2)
2024-08-01

LT Rating  


ST Rating  A1

LRA Maintains Instrument Rating to LOLC Holdings PLC - LKR 15bn Commercial Paper

LOLC Holdings PLC - Commercial Paper -LKR 15Bn
2024-07-30

LT Rating  


ST Rating  A1

LRA Maintains Instrument Rating to LOLC Holdings PLC -Commercial Paper - LKR 15 Bn

LOLC Holdings PLC - Commercial Paper - LKR 15 Bn
2024-07-30

LT Rating  A


ST Rating  -

LRA Maintains Entity Rating of LOLC Holdings PLC

LOLC Holdings PLC
2024-07-29

LT Rating  


ST Rating  -

LRA Withdraws the Preliminary Debt Instrument Rating of LOLC Holdings PLC – LKR8bln Listed, Rated, Senior, Unsecured, Redeemable Debenture

LOLC Holdings PLC - LKR 08Bn Senior Unsecured Listed Rated Redeemable Debenture
2024-07-29

LT Rating  


ST Rating  A1

LRA Maintains Instrument Rating to LOLC Holdings PLC - LKR 3bn Commercial Paper

LOLC Holdings PLC - LKR 03Bn Commercial Paper Program
2024-07-29

LT Rating  A


ST Rating  -

LRA Maintains Instrument Rating to LOLC Holdings PLC - LKR 10Bn Listed Rated Senior Unsecured Redeemable Debenture

LOLC Holdings PLC - LKR 10Bn Listed Rated Senior Unsecured Redeemable Debenture
2024-07-29

LT Rating  A


ST Rating  -

LRA Maintains Instrument Rating to LOLC Holdings PLC - LKR 02Bn Listed Rated Senior Unsecured Redeemable Debentures

LOLC Holdings PLC - LKR 02Bn Listed Rated Senior Unsecured Redeemable Debentures
2024-07-29

LT Rating  


ST Rating  A1

LRA Maintains Instrument Rating to LOLC Holdings PLC - Commercial Paper - LKR 6Bn

LOLC Holdings PLC - Commercial Paper - LKR 6Bn
2024-07-29

LT Rating  


ST Rating  -

LRA Withdraws the Entity Rating of Nawaloka Medicare (Pvt) Ltd

Nawaloka Medicare (Pvt) Ltd
2024-07-26

LT Rating  BB


ST Rating  -

LRA Assigns Initial Entity Rating to Lakderana Investments Limited.

Lakderana Investments LTD
2024-07-19

LT Rating  A-(f)


ST Rating  -

LRA Assigns Initial Stability Rating to JB Vantage Money Market Fund

JB Vantage Money Market Fund
2024-07-15

LT Rating  A


ST Rating  -

LRA Assigns Initial Entity Rating to Capital Alliance PLC.

Capital Alliance PLC
2024-05-15

LT Rating  BBB+


ST Rating  -

LRA Maintains Entity Rating of Vallibel Finance PLC, Outlook improves to "Stable".

Vallibel Finance PLC
2024-05-13

LT Rating  -


ST Rating  -

LRA Withdraws Entity Rating of Softlogic Capital PLC

Softlogic Capital PLC
2024-05-08

LT Rating  B-


ST Rating  -

LRA Assigns Initial Entity Rating to Ceylon Waste Management Refinery Limited

Ceylon Waste Management Refinery Limited
2024-05-07

LT Rating  


ST Rating  A3

LRA Assigns Instrument Rating to Janashakthi Limited - LKR 1Bn Commercial Paper

Janashakthi Limited - Commercial Paper - 01Bn
2024-05-03

LT Rating  BBB-


ST Rating  -

LRA Upgrades Entity Rating of Janashakthi Limited

Janashakthi Limited
2024-05-03

LT Rating  A(f)


ST Rating  -

LRA Assigns Initial Stability Rating to Softlogic Money Market Fund.

Softlogic Money Market Fund
2024-03-20

LT Rating  


ST Rating  -

LRA Withdraws the Entity Rating of Orient Finance PLC

Orient Finance PLC
2024-02-23

LT Rating  


ST Rating  -

LRA Withdraws the Entity Rating of Litro Gas Lanka Limited

Litro Gas Lanka
2024-02-22

LT Rating  


ST Rating  -

LRA Withdraws Stability Rating of NAMAL High Yield Fund

NAMAL High Yield Fund
2024-01-10

LT Rating  BBB


ST Rating  -

LRA Assigns Initial Entity Rating to E.B. Creasy & Co PLC

EB Creasy & Co PLC
2023-11-29

Press Release

SRI LANKA ECONOMY - TURBULENT TIMES

2022-04-19

About LRA

Lanka Rating Agency Limited (LRA) is a domestic credit rating agency registered under the Securities and Exchange Commission Act No. 19 of 2021 and the Gazette Extraordinary bearing Number 2271/09 dated 15th March 2022.

LRA was registered in March 2021 as a credit rating agency in Sri Lanka from the Securities and Exchange commission of Sri Lanka.

With the entrance of Our foreign partner Pakistan Credit Rating Agency (PACRA) as a shareholder and also as the provider of technical assistance for ratings, it’s become a major strength to our local shareholders. The company reverted to its previous brand identity of Lanka Rating Agency (LRA) and continues as a domestic credit rating agency with global expertise similar to many other domestic rating agencies in Asia and Europe.