Sri Lankan central bank to review ratings by LRA.
Global Banking News-June 22, 2015--Sri Lankan central bank to review ratings by LRA
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Global Banking News - 22 June 2015
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The Central Bank of Sri Lanka said that it is planning to review all of the ratings issued for finance companies by crisis-hit Lanka Ratings Agency (LRA).
The move came after LRA was suspended by the Securities and Exchange Commission (SEC).
A central bank official said, 'Over 30 finance companies were rated by LRA out of the 45 that are licensed by the central bank. We want to find out the details of these ratings.' The SEC had earlier restrained LRA from providing new ratings with effect from 25th March.
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