S&P revises Sri Lanka's outlook to positive

Ratings agency Standard & Poor's raised the outlook on Sri Lanka's sovereign debt to positive from stable on Thursday due a stronger balance of payments position and a $2.6 billion loan from the International Monetary Fund.

"The outlook change takes into account the continued strengthening of Sri Lanka's balance of payments position, and reflects Standard & Poor's expectation that the IMF standby loan program will be pursued to its conclusion," S&P credit analyst Agost Benard said in a statement. Reuters