{"id":146852,"date":"2024-12-25T15:36:50","date_gmt":"2024-12-25T22:36:50","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=146852"},"modified":"2024-12-25T15:36:50","modified_gmt":"2024-12-25T22:36:50","slug":"moodys-joins-fitch-in-upgrading-sri-lanka-on-debt-restructuring","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2024\/12\/25\/moodys-joins-fitch-in-upgrading-sri-lanka-on-debt-restructuring\/","title":{"rendered":"Moody\u2019s Joins Fitch in Upgrading Sri Lanka on Debt Restructuring"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em><span class=\"b-byline__by\">By<\/span>\u00a0<span class=\"b-byline__names\">Malavika Kaur Makol Courtesy Bloomberg<\/span><\/em><\/span><\/h2>\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.bnnbloomberg.ca\/resizer\/v2\/234CI4DF6QIGIVLYT2EUDG7LAU.jpg?smart=true&amp;auth=a17252873899b16dbf4f133636ade1016cead336a2a3e727503bc4fb654c29d0&amp;width=2000&amp;height=1125\" alt=\"\"\/><figcaption class=\"wp-element-caption\">A worker pushes a cart in Colombo. Photographer: Buddhika Weerasinghe\/Bloomberg&nbsp;(Buddhika Weerasinghe\/Bloomberg)<\/figcaption><\/figure>\n\n\n\n<p>(Bloomberg) &#8212; Moody\u2019s Ratings upgraded Sri Lanka\u2019s credit rating, days after the nation concluded debt restructuring of its dollar bonds, which reduces the risk of default on future notes.&nbsp;<\/p>\n\n\n\n<p>The South Asian nation has been upgraded to Caa1 from Ca on Monday, according to a statement by the rating agency. While governments with that rating are still judged as very high risk by Moody\u2019s, it is a notable step for the island nation and a second upgrade it has received this month.&nbsp;<\/p>\n\n\n\n<p>Last week, Fitch had upgraded the country after it gained extensive support from private creditors to restructure its international bonds. Moody\u2019s had last month placed Sri Lanka on review for the ratings upgrade.&nbsp;<\/p>\n\n\n\n<p>Sri Lanka\u2019s credit fundamentals have improved over the past two years,\u201d analysts Anushka Shah and Gene Fang said in Monday\u2019s statement. External vulnerability and government liquidity risk have both declined from elevated levels.\u201d<\/p>\n\n\n\n<p>READ: Sri Lanka Bondholders Back $12.6 Billion Debt Restructuring<\/p>\n\n\n\n<p>&#8211;With assistance from Jorgelina do Rosario and Anusha Ondaatjie.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By\u00a0Malavika Kaur Makol Courtesy Bloomberg (Bloomberg) &#8212; Moody\u2019s Ratings upgraded Sri Lanka\u2019s credit rating, days after the nation concluded debt restructuring of its dollar bonds, which reduces the risk of default on future notes.&nbsp; The South Asian nation has been upgraded to Caa1 from Ca on Monday, according to a statement by the rating agency. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,193],"tags":[],"class_list":["post-146852","post","type-post","status-publish","format-standard","hentry","category-economy","category-imf-bailout-package"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/146852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=146852"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/146852\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=146852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=146852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=146852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}