Fitch Affirms Sri Lanka’s Country Rating at ‘BB-’; Outlook Stable
Fitch Ratings has affirmed Sri Lanka’s Foreign- and Local-Currency
Issuer Default Ratings (IDRs) at ‘BB-’. The Outlook for both ratings
The Country Ceiling has also been affirmed at ‘BB-’, and the
Short-Term Foreign Currency IDR at ‘B’.
Fitch Ratings, in a press release, states that the ratings reflect
Fitch’s view that the Government and the Central Bank of Sri Lanka (CBSL)
have taken the appropriate measures to place the economy on a more
Successful implementation and persistent application of policies
adopted by the Government and the CBSL aimed at improving external
liquidity, including monetary tightening, and concerted efforts to
persist with fiscal consolidation are some of the factors that have been
considered in affirming the Sri Lanka’s ratings.