Fitch Ratings has upgraded Sri Lanka’s Long-Term Local-Currency Issuer Default Rating (IDR) to ‘CCC-‘ from ‘RD’ (Restricted Default). Fitch typically does not assign Outlooks to sovereigns with a rating of ‘CCC+’ or below. The Long-Term Foreign-Currency IDR has been affirmed at ‘RD’ and the Country Ceiling at ‘B-‘. The Short-Term Local-Currency IDR has been downgraded.
Bangladesh has been downgraded by the Big Three rating companies (S&P Global Rating, Moody’s Investors Service and now Fitch) – making it imperative for government officials and policymakers to take action for redress
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