Sri Lanka objects to ‘highly unwarranted’ downgrade


The Central Bank of Sri Lanka on February 29 issued a statement calling the decision to alter the country's credit rating "highly unwarranted".

Standard & Poor's (S&P) Ratings Services on February 29 revised its outlook on the long-term foreign currency sovereign credit rating for Sri Lanka to stable from positive. At the same time, S&P affirmed its B+/B foreign currency sovereign credit ratings on Sri Lanka.

The rating agency also lowered the long-term local currency rating to B+ from BB–

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