Sri Lanka’s US dollar bonds get final ‘B’ rating from Fitch

ECONOMYNEXT – Fitch Ratings said it has assigned a final rating of ‘B’ to the US dollar bonds issued by the Sri Lankan government on 7 March 2019.

The two bonds are a one billion dollar bond yielding 6.85 percent due in 2024 and a 1.4 billion bond at 7.85 percent due in 2029.

“The ratings are in line with Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘B’ with a Stable Outlook.,” a statement said.

“The ratings 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, March 14, 2019-SB)
 

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