| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers S > Headlines for Sri Lanka > News item |
S&P upgrades Sri Lanka local currency ratings
S&P said it raised its long- and short-term local currency sovereign credit ratings on Sri Lanka to CCC+/C from SD/SD (selective default).
At the same time, S&P affirmed its SD/SD long- and short-term foreign currency ratings.
The outlook on the CCC+ long-term local currency rating is stable.
S&P also raised the issue rating on Sri Lanka's local currency bond maturing in October 2023 to CCC+ from D.
On Sept. 14, Sri Lanka settled a debt exchange program on some of its local-currency-denominated government bonds held by superannuation funds. On Sept. 21, the government also completed a restructuring of its obligations to the Central Bank of Sri Lanka.
“We are adopting a forward-looking opinion about Sri Lanka's creditworthiness on its local currency obligations post-default,” S&P said in a news release.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.