S&P affirms CCC-plus/C on Sri Lanka ratings with stable outlook ANI | Updated: May 31, 2021 15:36 IST It also affirmed short-term foreign and local currency credit ratings at C. The transfer and convertibility assessment is CCC-plus. The outlook remains stable, said S&P, reflecting that risks to Sri Lanka are relatively balanced over the next 12 months. The threat of external deterioration is partially offset by the country's access to official funding and accommodative macroeconomic policies which are likely to boost domestic demand recovery. The ratings reflect S&P's assessment that risks to debt-servicing capacity remain elevated and the government's access to external financing is increasingly dependent on official support and favourable economic and financial conditions.