Sri Lankas long-awaited sovereign rating has fallen victim to the ongoing political drama, with authorities opting to put the brakes on the issue once again.
After toying with the idea for years, the government gave the greenlight late last year, to seek a country rating from at least two international rating agencies endash Standard & Poors and Moodys Investor Services. rn
rnA rating from a third rating agency was on the cards, when the country eventually taps the foreign debt markets.rn
rnBut the issue has once again been shelved though Central Bank, which is acting as the governments agent, says no official communication has been sent yet.rn
rnCentral Banks Deputy Governor, W A Wijewardene said the process has been delayed, though the bank is still going ahead with the route of selecting a ratings advisor.rn
rnldblquote We were hoping to give the mandate by March, April. But our advisors have told us that the chances of getting a good rating is remote now due to the ongoing political uncert