S&P downgrades Sri Lanka’s foreign currency rating amid economic crisis

14 April 2022 08:38 am - 3 - {{hitsCtrl.values.hits}}

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S&P Global Ratings on Wednesday lowered Sri Lanka's foreign currency rating to "CC" from "CCC", citing the economic crisis in the country and rising external funding pressures.

Sri Lanka's debt restructuring process is likely to be complicated and may take months to complete", the ratings agency said in a statement.

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Comments - 3

Raj Thursday, 14 April 2022 10:30 AM

CC means "In default with little prospect for recovery". While regional benchmark Singapore AAA.

Manjula Wijesekera Thursday, 14 April 2022 10:55 AM

They corrupt politicians cannot lead us anymore they are highly incompetent . They know only to steal country's wealth.

Lanka Shantha Thursday, 14 April 2022 10:55 AM

Sri Lanka leased Hambantota Harbor to China. Ok change the rules. Don't allow them to use our roads for free. No water, Electricity supply to the Harbor. Tax them for it. Sri Lanka labors working there should be paid in foreign Currency.

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S&P downgrades Sri Lanka’s foreign currency rating amid economic crisis

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