Chinese company says would complain to international rating agencies

While asserting that its product was cleared of harmful bacteria including Erwinia, the Chinese company that is involved in the fertilizer dispute with Sri Lanka said it would complain to the international rating agencies against Sri Lankan state banks over the default of payment, a spokesman said.  

The spokesman said the ship carrying 20,000 tons of organic fertilizer manufactured by Seawin Biotech does not contain harmful bacteria, according to the latest test report in Singapore.

The company says the company ‘Seawin Biotech’  is preparing to complain to the top three international credit rating agencies -Standards & Poor’s rating, Moody’s Investors Service and Fitch rating against the state banks of Sri Lanka. 

“We will share the relevant evidence of the case with these three institutions to remind other international investors of the relevant risks,” she said. (Kelum Bandara)