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ICRA Lanka revises the rating of Construction Guarantee Fund to [SL]A (Stable) January, 19, 2021 ICRA Lanka Limited has revised the Issuer rating assigned to Construction Guarantee Fund (“CGF”/ “the Fund”) to [SL] A(pronounced S L A) with stable outlook from [SL] A- (pronounced S L A minus) with stable outlook. Rationale The rating revision primarily factors in the Government of Sri Lanka (GOSL)’s recognition of the Fund as a long standing key player in the construction industry in Sri Lanka. This was further witnessed by the Fund’s recent partnership with the Road Development Authority (RDA), providing its the services/guarantees on behalf all the construction contractors under the “Saubagya Dakma Programme”, which targets the construction of 100,000 Km-rural roadnetworks around the country. This programme has not only helped the Fund to increase its operational scope during CY2020 but also to envisage its due recognition as a Fund Manager in ....