S&P rates Sri Lanka’s global bond ‘B+’


July 12, 2016 (LBO) – S&P Global Ratings has assigned its ‘B+’ long-term issue rating to the global bond issued by Sri Lanka (B+/Negative/B).

The senior unsecured bond constitutes direct, unconditional, unsubordinated, and unsecured general obligations of the issuer, and payments will be backed by the full faith and credit of Sri Lanka.

The dual tranche bond has a 5.5- and 10-year maturity.

Moody’s Investors Service yesterday assigned a provisional rating of (P)B1 to Sri Lanka’s US-dollar denominated bond offering.