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Fitch Ratings has cut the outlook of Sri Lanka's Abans Plc, a consumer goods retailer to 'negative's from 'stable' due to difficulties in importing after a forex shortages emerged from a broken soft-peg.
Fitch Ratings has downgraded the Sri Lanka-based Lakdhanavi Limited’s National Long-Term Rating to ‘AA-(lka)’ from ‘AA+(lka)’. The Outlook is Stable. The downgrade reflects the risk of disruptions to Lakdhanavi’s domestic operations from a potential fuel shortage and heightened counterparty risk due to its exposure to payments from the Sri Lankan government (Long-Term Foreign-Currency Issuer Default...