Fitch assigns Sri Lanka’s dollar bond B+ (EXP) rating

Fitch-Ratings

May 04, 2017 (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 stated that the rating would be sensitive to any changes in Sri Lanka’s long-term foreign-currency IDR.

In February 2017, Fitch affirmed Sri Lanka’s long-term foreign-currency IDR at ‘B+’ and revised the outlook to stable from negative.

Meanwhile, the IMF has reached staff-level agreement with Sri Lankan authorities on the second review under a three-year Extended Fund Facility arrangement.