Lanka’s upcoming bond rated ‘BB-(exp)’

Fitch Ratings has assigned Sri Lanka’s’ upcoming USD-denominated global bonds due 2021 an expected ‘BB-(exp)’ rating. The final rating is contingent on the receipt of final documentation conforming to information already received.

As the currency of settlement is specified as USD, the rating is in line with Sri Lanka’s Long-Term Foreign Currency Issuer Default Rating (IDR) of ‘BB-’. The sovereign’s Long-Term Local Currency IDR is also ‘BB-’. The rating outlooks are stable.