Sri Lanka#s Global Bond Issue Rated #B+#

Stocks and Financial Services Press Releases Tuesday October 27, 2015 16:06
SINGAPORE--27 Oct--Standard & Poor's

SINGAPORE (Standard & Poor's) Oct. 27, 2015--Standard & Poor's Ratings Services today assigned its 'B+' issue rating to the global bond issued by the Democratic Socialist Republic of Sri Lanka (B+/Stable/B). The senior unsecured bond constitutes direct, unconditional, unsubordinated, and unsecured general obligations of the issuer, and payments will be backed by the full faith and credit of Sri Lanka.

The bond has a 10-year maturity. The sovereign credit rating on Sri Lanka reflects the country's relatively low wealth, improving but still moderately weak external liquidity, and a high government debt and interest burden. In addition, while the government has recently taken steps to strengthen governance, we consider the current gaps in institutional capacity to pose risks to Sri Lanka's institutional and governance effectiveness.

These rating constraints weigh against the country's robust growth prospects. The factors that help Sri Lanka's growth are government investment, including measures to reconstruct the northern districts, the improving financial performance of public enterprises, increasing tourist arrivals, and declining inflation, which we expect to remain in the single digits.


Latest Press Release

mai welcomes real estate developer CMC on November 19

Market for Alternative Investment (mai) will list Chaoprayamahanakorn pcl, a leading real estate developer onNovember 19, under the ticker symbol "CMC". The company has a market capitalization at its initial public offering (IPO) of THB 3.00 billion...

KTC - Chilito Mexican Grill - Farm Factory provide members special privileges for payments made using QR Pay in the KTC Mobile app.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, provides KTC VISA and KTC MasterCard credit card members who make payments through KTC QR Pay in the "KTC Mobile" app worth Bt. 300 or more...

Photo Release: KBank opens new flagship branch and THE WISDOM Lounge at ICONSIAM

Mr. Wirawat Panthawangkul (3rd from left), KBank Senior Executive Vice President, and Ms. Chadatip Chutrakul (4th from left), Director of ICONSIAM Co., Ltd., and Chief Executive Officer of Siam Piwat Co., Ltd., participated in the opening ceremony of...

Photo Release: CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

Tengku Dato' Sri Zafrul Aziz, Group CEO of CIMB Group (right), and Brad Garlinghouse, Ripple CEO (left) commemorating the strategic collaboration between CIMB Group and Ripple to power instant payments across ASEAN at the Singapore FinTech festival 2018...

CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

CIMB is one of the first banks to leverage blockchain technology to tap into region's USD120 billion remittance business CIMB Group ("CIMB" or "the Group") and Ripple have entered into a strategic collaboration to enable instant cross border payments...

Related Topics