Moody's raises Sri Lanka's rating after debt overhaul approval

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Credit ratings agency Moody's on Monday raised Sri Lanka's long-term foreign currency issuer rating to 'Caa1' from 'Ca' with a stable outlook, after the country's creditors approved a $12.55 billion debt overhaul last week.

FILE PHOTO: A general view of city's skyline, amid the country's economic crisis in Colombo, Sri Lanka, April 19, 2022.

The rating action marked the conclusion of a review Moody's initiated last month, in which it had indicated a possible upgrade.

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Article Details

Category: EconomyBusiness

Markets: SingaporeSri Lanka

Topics: Foreign Ratings Lanka Moody Government Debt 2022 Crisis Last Rating Credit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 19:36:48 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 262 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 24596548

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