International Credit Rating Agency (ICRA) assigns this rating to schemes that have an adequate degree of safety regarding timely receipt of payments from the investments that they have made. Rating is based on the JB Vantage Money Market Fund’s portfolio with the credit score being comfortable at the assigned rating level. The fund is the second largest Money Market Fund in terms of assets under management (AUM) in Sri Lanka with Rs.18.82 billion as at December 2020. ICRA Lanka Limited (ICRA Lanka) is a fully owned subsidiary of ICRA Limited (ICRA) of India and is licensed by the Securities and Exchange Commission of Sri Lanka (SEC). The ultimate parent company of the international Credit Rating Agency, Moody’s Investors Service, is ICRA’s indirect majority shareholder.

Source: The Nation February 17, 2021 15:13 UTC