Fitch assigns Sri Lanka’s upcoming USD bonds an expected rating of B (EXP)

Mar 07, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B (EXP)’.

The rating agency said the expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B’ with a stable outlook.

The agency, however, said that the rating would be sensitive to any changes in Sri Lanka’s Long-Term Foreign-Currency IDR.

Fitch downgraded Sri Lanka’s Long-Term Foreign and Local-Currency IDRs to ‘B’ from ‘B+’, with a stable outlook, on 3 December 2018.