Sri Lanka, Dec. 8 -- According to Moody's Ratings, South and Southeast Asian countries have been severely impacted by several tropical cyclones and unusually heavy monsoon rains since mid-November, leading to widespread flooding and landslides and the tragic loss of hundreds of lives.
Moody's assesses that the economic, fiscal, and credit impact of this disaster is likely to be most material for Sri Lanka (Caa1 stable).
While the credit implications for other affected governments will be more limited, the severity of the flooding highlights broader credit vulnerabilities to physical climate risks over the longer term across the region, especially considering limited natural catastrophe insurance coverage.
Sri Lanka, along with Indonesia ...