S&P lowers Sri Lanka rating to ‘B-’ on COVID-19 induced fiscal deterioration, Outlook Stable

S&P Global Ratings has lowered its long-term foreign and local currency sovereign credit ratings on Sri Lanka to ‘B-’ from B. It also affirmed their short-term foreign and local currency ratings at ‘B’. The transfer and convertibility assessment is revised to ‘B-’ from ‘B’. The Outlook is Stable.