April 2, 2019: VIS Credit Rating Company Limited has maintained the entity ratings of BMA Capital Management Limited at single A minus/A-Two).
The outlook on the assigned ratings has been revised from stable to negative.
The long term rating of A- signifies good credit quality with adequate protection factors. Risk may vary slightly from time to time because of economic conditions.
Short term rating of A-2 depicts good certainty of timely payment where liquidity factors are sound and good access to capital markets.
The previous rating action was announced on March 6, 2018, said a press release on Tuesday.
The assigned ratings factor in BMA's long-standing experience in securities broking business, existing market position and adequate leverage indicators.
Revision in rating outlook reflects weakening in sector outlook and resultant pressure on profitability profile and capitalization levels.
Ratings also factor in low diversification in revenue streams with equity brokerage being the primary business.
