July 17, 2012 (LBO) – Fitch Ratings has given a ‘BB- (exp)’ rating with a stable outlook for a 10-year sovereign bond launched Tuesday.
The full statement is reproduced below
Fitch Rates Sri Lanka’s Upcoming Bond ‘BB-(exp)’
Fitch Ratings-Hong Kong-17 July 2012: Fitch Ratings has assigned Sri Lanka’s upcoming USD-denominated global bonds due 2022 an expected ‘BB-(exp)’ rating. The final rating is contingent on the receipt of final documentation conforming to information already received.
The rating is in line with the Sri Lankan sovereign’s Long-Term Foreign Currency Issuer Default Rating (IDR) of ‘BB-‘. Sri Lanka’s Long-Term Local Currency IDR is also ‘BB-‘. The IDR Outlooks are Stable.