S&P downgrades Sri Lanka; Central Bank disputes

Sri Lanka’s Central Bank says that S&P’s assessment to downgrade the rating has clearly failed to recognise the recent progress made by the Government and the CBSL in securing foreign exchange inflows to meet the government’s forthcoming debt obligations.

Standard and Poor’s has downgraded Sri Lanka to ‘CCC’ from ‘CCC+’ with the outlook negative.

Unwarranted-Rating-Action-by-SP-PR-E-12.01.2022

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cineha
cineha
13 days ago

The reliability is with the rating agencies. There is no point is releasing worthless press statements.