Lanka Rating Agency responds

With reference to the press notice regarding the lapse of the Credit Rating Agency Licence of LRA, the Board of Directors of LRA wish to inform the general public that LRA did make a valid application for the renewal of its registration as a Credit Rating Agency.

The said application was pending when the SEC decided that LRA had not made a valid application for the extension of its registration. LRA is in communication with the SEC to resolve the matter

Notwithstanding the above, LRA is concerned about the reputational loss to the company, its shareholders, its clientele and staff and hope that its discussions with the SEC will lead to a resolution of the underline issues and obtain the renewal of the licence as early as possible.