Security Leasing ratings reaffirmed

JCR-VIS Credit Rating Company Ltd (JCR-VIS) has reaffirmed the medium to long-term rating of Security Leasing Corporation Limited (SLCL) at 'A' (Single A) with a 'Stable' outlook. Short-term rating of the company has also been reaffirmed at 'A-1' (A-One). The assigned ratings take into consideration the gradual improvement in asset quality and maintenance of strong profitability indicators.
During the second half of FY2004, SLCL has pursued leverage driven growth and to maintain the existing level of capitalisation, various options are under consideration. JCR-VIS will keep investors informed of progress in this regard.