Sri Lanka’s US dollar bond rated ‘BB-(EXP)’: Fitch

May 29, 2015 (LBO) – Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar denominated bonds an expected rating of ‘BB-(EXP)’.

The full statement follows

Fitch Ratings has assigned Sri Lanka’s forthcoming US dollar denominated bonds an expected rating of ‘BB-(EXP)’.

KEY RATING DRIVERS

The expected rating is in line with Sri Lanka’s Long-Term Foreign Currency Issuer Default Rating (IDR) of ‘BB-‘ with Stable Outlook.

RATING SENSITIVITIES

The rating would be sensitive to any changes in Sri Lanka’s Long-Term Foreign Currency IDR. On 22 April 2015, Fitch affirmed Sri Lanka’s Long-Term Foreign Currency IDR at ‘BB-‘ with a Stable Outlook. The Long-Term Local Currency IDR is also ‘BB-‘ with Stable Outlook..