Fitch places Sri Lanka UCO after publication of final sovereign rating criteria

Saturday, 16 July 2022 00:35 - - {{hitsCtrl.values.hits}}

Fitch Ratings said yesterday it has placed Sri Lanka's Long-Term Local-Currency Issuer Default Rating (IDR) and associated instruments Under Criteria Observation (UCO) following the conversion of the agency's Exposure Draft: Sovereign Rating Criteria to final criteria.

The UCO assignment indicates that ratings may change as a direct result of the final criteria. It does not indicate a change in the underlying credit profile, nor does it affect existing Outlooks.

“We will resolve the UCO status within six months. The outcomes will depend on Fitch's assessment of the appropriate notching based on the new criteria. Not all issuers on UCO will have a rating change upon resolution,” Fitch added.

A summary of the changes introduced by the new criteria is available at: Fitch Ratings Publishes Final Sovereign Rating Criteria (fitchratings.com/research/sovereigns/fitch-ratings-publishes-final-sovereign-rating-criteria-11-07-2022).

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.