ICRA Lanka Limited, a subsidiary company of Moody’s Investors Services, has rated JAT Holdings as an ‘A+ Stable’ company for the fifth year in succession. Signifying its strong brand equity and dominant market position, JAT Holdings is the only private corporate with a Moody’s A+ rating or higher, in Sri Lanka. Receiving a stable outlook demonstrates ICRA Lanka’s confidence that JAT Holdings would recover its financial standing in the long-term, despite the subdued market conditions post Covid-19.
The reaffirmation of the rating is based the Company’s strong brand name, leading market position in the wood coating industry, especially in the water-based wood coating segment, whilst factoring in the growth potential of woodcare products in Sri Lanka. Obtaining this rating also indicates that JAT Holdings has adequate credit quality and carries average credit risk.
ICRA Lanka Limited (ICRA Lanka) is a Credit Rating Agency licensed by the Securities and Exchange Commission of Sri Lanka (SEC). ICRA Lanka is a fully owned subsidiary of ICRA Limited (ICRA) of India.