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Moody’s: Sri Lanka bond B1
Moody’s Investors Service said it assigned a provisional rating of B1 to the government of Sri Lanka’s announced dollar-denominated bond offering.
Sri Lanka has an issuer rating is B1 with a negative outlook.
Sri Lanka’s B1 rating is supported by the economy’s robust growth potential and higher income levels than similarly rated sovereigns, Moody’s said.
With the effective implementation of some of the fiscal policy measures and other structural reforms planned under the International Monetary Fund’s extended fund facility, the government would be able to tap a significant potential revenue base, the agency explained.
But there are material risks that the IMF program does not deliver the outcomes that are currently expected, Moody’s said.
This could lead to deterioration in Sri Lanka’s credit metrics to levels no longer comparable to B1-rated sovereigns, the agency said.
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