Fitch Upgrades Sri Lanka to ‘B-’ With Stable Outlook

Report Summary

COLOMBO (News 1st); Fitch Ratings has upgraded Sri Lanka’s Long-Term Issuer Default Ratings (IDRs) to ‘B-’ from ‘CCC+’ and assigned the country a Stable Outlook. According to Fitch, the upgrade is driven by the implementation of macro-stabilization policies supported by structural reforms that have reduced external financing risks and strengthened the country’s ability to withstand economic…