Sri Lanka’s Ratings Raised by S&P Before $1 Billion Bond Sale
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Sri Lanka’s debt ratings were raised by Standard & Poor’s after the end of a civil war and a $2.5 billion loan from the International Monetary Fund bolstered government finances.
S&P raised the nation’s long-term foreign-currency rating to B+ from B and the local-currency rating to BB- from B+, with a stable outlook, it said in a statement today. Both are still three to four levels below investment grade.