Fitch rates Sri Lanka’s USD bonds final ‘B’

July 01, 2019 (LBO) – Fitch Ratings has assigned Sri Lanka’s 500 million US dollars, 6.35% bonds due 2024 and 1.5 billion 7.55% bonds due 2030 a final rating of ‘B’.

The final rating is in line with the expected rating assigned on 24 June 2019.

Key Rating Drivers
The bonds ratings are in line with Sri Lanka’s Long-Term Foreign-Currency

Issuer Default Rating
(IDR) of ‘B’ with a Stable Outlook

RATING SENSITIVITIES
The ratings would be sensitive to any changes in Sri Lanka’s Long-Term Foreign-Currency IDR.

Fitch downgraded Sri Lanka’s Long-Term Foreign- and Local-Currency IDRs to ‘B’ from ‘B+’, with a Stable Outlook, in December 2018.