Softlogic Stock Brokers

Softogic Stockbrokers (Pvt) Ltd Rating Placed on Notice of Withdrawal

InstrumentCurrent Rated Amount (LKR Mn) Rating Action
Issuer rating            N/A [SL] BBB; placed on Notice of Withdrawal for 30 days

Rating action

ICRA Lanka Limited has placed the Issuer rating of [SL] BBB (pronounced SL Triple B) assigned to Softlogic Stockbrokers (Pvt) Ltd (“SSB”/ “the Company”) on Notice of Withdrawal for 30 days. The withdrawal is at the request of the Company and the rating would be withdrawn at the end of the withdrawal notice period. 

Analytical approach: The withdrawal is based on ICRA Lanka’s Policy on withdrawal and suspension of Credit Rating and the rating is based on ICRA Lanka’s issuer rating methodology, as indicated below.

Links to applicable criteria:  https://www.icralanka.com/issuer-rating-methodology/

About the Company:

Softlogic Stock Brokers (Pvt) Limited (SSB) was incorporated in 2010 and is a prominent Stock Broker firm in Sri Lanka with a trading license from the Securities and Exchange Commission (SEC). It is a fully-owned subsidiary of Softlogic Capital PLC, the holding company of the Softlogic group’s financial services segment. SSB has a key focus in High Networth and foreign customers, while catering to the retail investors.

Rating history for last three years:
Analysts
Shewmay Chang
Senior Analyst
shewmay@icralanka.com

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