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 Fitch Assigns Sri Lanka's USD Bonds Final 'B' Rating

Fitch Ratings announced to day that they have assigned a final rating of ‘B’ to the following bonds issued by Sri Lanka on 7 March 2019.

Accordingly, USD 1 billion 6.85% bond due in 2024, and USD1.4 billion 7.85% bond due in 2029. 

This rating has replaced the expected rating of 'B (EXP)' that Fitch assigned on 6 March 2019. 

KEY RATING DRIVERS 

The ratings are in line with Sri Lanka's Long-Term Foreign-Currency Issuer Default Rating (IDR) of 'B' with a Stable Outlook.

RATING SENSITIVITIES

The ratings would be sensitive to any changes in Sri Lanka's Long-Term Foreign-Currency IDR. Fitch downgraded Sri Lanka's Long-Term Foreign- and Local-Currency IDRs to 'B' from 'B+', with a Stable Outlook, on 3 December 2018.

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