Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Fitch rates Sri Lanka's 500 million US dollar bond at 'BB-(EXP)'
Tue, Apr 8, 2014, 12:41 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 07, Colombo: Fitch Ratings has assigned Sri Lanka's forthcoming US dollar-denominated global bonds due 2019 an expected rating of 'BB-(EXP)'.

The expected rating is in line with Sri Lanka's current Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BB-' with Stable Outlook. The sovereign's Long-Term Local Currency IDR is also 'BB-' with Stable Outlook, the rating agency announced.

The final rating is contingent on the receipt of final documentation conforming to information already received.

Relatively strong growth, a comparatively high level of basic human development as indicated by the UN's Human Development Index, and a solid payment record are key rating drivers for the rating ag3ency's decision.

Although the 2014 budget signals commitment to medium-term debt reduction and an ability to maintain a gradual fiscal consolidation trend, the high fiscal deficit, which was 5.9% of GDP in 2013, and government debt burden 78.3% of GDP in 2013 had driven the rating in the BB category,

Sustained improvement in the macroeconomic outlook that is consistent with healthy economic growth coupled with moderate and stable inflation and external equilibrium has contributed to the positive rating and stable outlook.

Read the full rating report here.

ColomboPage - Recent 10 Stories
Australian assistance to establish clinical waste management systems in Sri Lankan state hospitals
-- [57 minutes ago]
Indian fishers appeal central government to get fishermen released from Sri Lanka custody
-- [2 hours ago]
Another victim of shooting at Sri Lanka election rally dies
-- [3 hours ago]
American Center in Colombo hosts seminar on labor rights in garment industry
-- [4 hours ago]
Veteran Sri Lankan cricketers appointed as brand ambassadors for National Kidney Fund
Sri Lanka plans to achieve an economic growth beyond 8 percent next three years
Sri Lankan government to establish a standard for imported fertilizers
Catholic Bishops urges Sri Lankans to choose worthy candidates
Van rams into UPFA Minister's supporters killing one
UN to provide an assistance package to Sri Lanka on the request of Northern Province CM

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.