Sri Lanka rating cut to Caa1 amid uncertainty

By Morgan Davis
29 Sep 2020

Sri Lanka is facing serious fiscal pressure, a result of the dire economic impact of the coronavirus. That led to a downgrade from Moody’s this week, which lowered its rating by two notches. All three major rating agencies have now downgraded the country this year.

Moody’s downgraded Sri Lanka to Caa1 from B2, following a review for downgrade that began in April. S&P Global Ratings downgraded it to B- in May, after Fitch did the same in April. 

Sri Lanka has reported more than 3,300 cases of Covid-19, a modest number compared with ...

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