Sri Lanka, Oct. 3 -- FitchRatings has affirmed Sri Lanka's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'CCC+'. Fitch typically does not assign Outlooks to sovereigns with a rating of 'CCC+' or below.
A full list of rating actions is at the end of this Rating Action Commentary.
Ratings Affirmed: Sri Lanka's 'CCC+' sovereign rating remains constrained by elevated general government indebtedness and a high interest-revenue ratio despite completion of the sovereign's debt restructuring in 2024. Sustained adherence to a path of reforms is facilitating a solid economic recovery, low inflation, a substantial fiscal adjustment, and improvements in the external finance position.
Reforms to Continue: Substantial progress has been mad...