Fitch Assigns Final 'BBB+(lka)' Rating to People’s Leasing’s Debentures 📈

• Issuance Overview: Fitch Ratings has assigned a final National Long-Term Rating of 'BBB+(lka)' to People’s Leasing & Finance PLC’s (PLC) proposed LKR 10 Bn rupee-denominated subordinated listed debentures. • Key Issue Details: Instrument: Five-year subordinated listed debentures to be traded on the Colombo Stock Exchange. Purpose: Proceeds will strengthen Tier 2 capital base and ensure capital adequacy compliance. Rating Basis: Set two notches below PLC's National Long-Term Rating of 'A(lka)/Stable' to reflect loss severity and recovery expectations. • Parental Support: PLC’s 'A(lka)' rating reflects anticipated support from parent entity People’s Bank (Sri Lanka), driven by majority ownership, strategic synergy, and shared branding.