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Binali
Binali
Nov 28 2024
12Bloomberg - Moody’s Ratings is reviewing Sri Lanka’s sovereign credit rating for an upgrade as the nation is set to complete the restructuring of its dollar bonds.
The rating company assigned the new dollar bonds that Sri Lanka is offering to swap for old debt a (P) Caa1 rating, it said in a statement on Thursday.
The debt swap reduces “the default risk on new and future issuances,” Moody’s said. The relatively comprehensive debt restructuring and reforms by the government are leading to a significant reduction in external vulnerability and government liquidity risk, while raising prospects for fiscal and debt sustainability, it said.
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