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Fidelity Among Big Sri Lankan Debt Holders Staring Down Risk

  • Island is at risk of default amid protests, political shuffle
  • Risk premium on Sri Lanka debt up to 30 percentage points
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WATCH: Global asset managers are staring down the risk of default in Sri Lanka in the face of a deepening economic crisis. Source: Bloomberg
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Global asset managers including Fidelity Investments and T. Rowe Price Group could be staring down the risk of default in Sri Lanka in the face of a deepening economic crisis.

Fidelity, Lord Abbett & Co. and T. Rowe were among the overseas holders of the island nation’s $12.6 billion in foreign debt, according to holdings most recently disclosed by investors in data compiled by Bloomberg. About $114.3 million of the debt was held between Fidelity International and Fidelity Investments, while Lord Abbett had about $78 million, according to the data. T. Rowe owned $32.6 million, followed by Payden & Rygel and SEI Investments, the data show.