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Lanka Ratings, the second credit ratings firm to offer ratings in Sri Lanka says adoption of BASEL II rules and making credit ratings mandatory for financial institutions is likely to create activity in the sector.









Lanka Ratings, the second credit ratings firm to offer ratings in Sri Lanka says adoption of BASEL II rules and making credit ratings mandatory for financial institutions is likely to create activity in the sector. Lanka Ratings is a fully owned by Rating Agency Malaysia.

Its chairman says Sri Lanka’s long term infrastructure needs will help develop the long term debt market, for which credit ratings are essential, but said macro stability was crucial for this to happen.

Most of Sri Lanka's major infrastructure projects are finance by foreign donors like the Mahaweli scheme and Colombo port containerization, Even now the Colombo-Matara highway the, islands first, is being built from concessionary loans from the Japanese government and the ADB.

However, Lanka Ratings says infrastructure is a major area that will require long term borrowing to finance.

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"(When) Sri Lanka goes into long term projects-like road building, power etc, You are talking about every sector of the economy to be