Fitch affirms Sri Lanka at CCC amid debt service challenges – ThePrint
A+ Hong Kong, June 16 (ANI): Fitch Ratings has affirmed Sri Lanka’s long-term foreign-currency issuer default rating at CCC. It said the island nation’s CCC rating reflects a challenging foreign-currency sovereign external debt repayment burden over the medium term, low foreign exchange reserves and rising government debt that gives rise to sustainability risks. External liquidity pressures have eased somewhat in recent months following bilateral loan disbursements and expectation of a forthcoming IMF special drawing rights (SDR) allocation. Nevertheless, said Fitch, Sri Lanka’s medium-...