Sri Lanka just launched sovereign bonds rated ‘B(EXP)’ by Fitch

ECONOMYNEXT – Sri Lanka’s international sovereign bonds which are being marketed today has been given an expected ‘B(EXP)’ rating by Fitch.

"The expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B’ with a Stable Outlook," Fitch said.

The full statement is reproduced below:

Fitch Rates Sri Lanka’s USD Bonds ‘B(EXP)’

06 MAR 2019 11:29 PM ET

Fitch Ratings-Hong Kong-06 March 2019: Fitch Ratings has assigned Sri Lanka’s upcoming US dollar-denominated bonds an expected rating of ‘B (EXP)’.

KEY RATING DRIVERS

The expected rating is in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B’ with a Stable Outlook.

RATING SENSITIVITIES

The rating would be sensitive to any changes in Sri Lanka’s Long-Term Foreign-Currency IDR. Fitch downgraded Sri Lanka’s Long-Term Foreign- and Local-Currency IDRs to ‘B’ from ‘B+’, with a Stable Outlook, on 3 December 2018. (Colombo/Mar07/2019-SB)