Sri Lanka's sovereign bond issue rated B+(EXP): Fitch
Apr 11, 2018 11:42 AM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - Fitch Ratings has assigned a B+(EXP) rating to Sri Lanka's sovereign bond issue of 5 and 10 year tenors with initial price guidance of around 6 to 7 percent.
A sovereign bond has a minimum size of 500 million dollars.
Sri Lanka was planning to raise up to 1.5 billion dollars in sovereign bonds this year depending on market conditions.
Fitch Ratings' statement is as follows:
Fitch Ratings has assigned Sri Lanka's upcoming US dollar-denominated bonds an expected rating of 'B+(EXP)'.
The expected rating is in line with Sri Lanka's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B+' with a Stable Outlook.
The rating would be sensitive to any changes in Sri Lanka's Long-Term Foreign-Currency IDR. In February 2018, Fitch affirmed Sri Lanka's Long-Term Foreign-Currency IDR at 'B+' with a Stable Outlook. The Long-Term Local-Currency IDR is also 'B+' with a Stable Outlook. (COLOMBO, 11 April, 2018)