Colombo (News 1st); Fitch Ratings has downgraded Sri Lanka’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC’. Fitch typically does not assign Outlooks or apply modifiers to sovereigns with a rating of ‘CCC’ or below. KEY RATING DRIVERS The downgrade reflects Sri Lanka’s increasingly challenging external-debt repayment position over the medium term. In particular, a sharp […]
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