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
Sri Lanka Supreme Court justice recuses from former minister's FR petition hearing
-- [4 hours ago]
Sri Lankan authorities commence appointing members to the Constitutional Council
-- [5 hours ago]
Director General of Sri Lanka Customs resigns
-- [5 hours ago]
Sri Lanka's former minister further remanded
-- [6 hours ago]
Sri Lanka opposition MPs complain to IMF against Central Bank Governor
-- [6 hours ago]
Energy conservation program introduced to Sri Lanka Army
-- [7 hours ago]
Protecting forests and environment among top priorities for Sri Lankan government - President
-- [8 hours ago]
Sri Lanka police investigate death of a U.S. pilot
-- [8 hours ago]
Sri Lankan visa applicant for UK arrested for fraud
Palai police team in Jaffna comes under attack from residents after suspect was shot

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.