Fitch Rates Sri Lanka's USD Bonds Final 'B'

Fitch Ratings has assigned Sri Lanka's US$ 500 million 6.35% bonds due 2024 and US$ 1.5 billion 7.55% bonds due 2030 a final rating of 'B'. The final rating is in line with the expected rating assigned on 24 June 2019. The bonds ratings are in line with Sri Lanka's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B' with a Stable Outlook. The ratings would be sensitive to any changes in Sri Lanka's Long-Term Foreign-Currency IDR, Fitch said. Fitch downgraded Sri Lanka's Long-Term Foreign- and Local-Currency IDRs to 'B' from 'B+', with a Stable Outlook, in December 2018.