Sri Lanka insurance upgrade on national rating, Fitch says

Sept 30, 2009 (LBO) – Fitch Ratings said it was correcting a previous announcement on Sri Lanka Insurance Corporation (SLIC), saying it had upgraded its National Long-term rating, and not the National Issuer Default Rating. It said in a statement the announcement corrects the version issued on 14 August 2009.

According to the corrected version, Fitch Ratings said it has upgraded Sri Lanka Insurance Corp’s National Long-term rating to ‘AA-(lka)’ from ‘A+(lka)’ with a stable outlook.

Fitch has also confirmed SLIC’s National Insurer Financial Strength (IFS) rating at ‘AA-(lka)’.