Regulatory Alerts2015-08-03 | 02/17/500/0063/001Suspension of Lanka Rating Agency Ltd. as an Acceptable Credit Rating Agency
The Central Bank of Sri Lanka has suspended Lanka Rating Agency Ltd (LRA) as an acceptable credit rating agency for licensed commercial and specialized banks, effective July 1, 2015. This suspension follows LRA’s registration non-renewal by the Securities and Exchange Commission of Sri Lanka, requiring banks to adjust their regulatory credit assessments accordingly. The Bank Supervision Department directs all licensed bank chief executives to implement appropriate compliance measures immediately following the circular's issuance.
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