Sri Lanka’s Credit Rating Set to Improve Following Successful Debt Restructuring Negotiations

1 week ago
Sri Lanka

Central Bank Governor Dr. Nandalal Weerasinghe announced that successful debt restructuring negotiations with International Sovereign Bond (ISB) holders are expected to improve Sri Lanka’s credit rating from CCC to CC.

Other international rating agencies are also likely to view this development positively.

Additionally, China has agreed to longer concessionary repayment terms and reduced interest rates, resulting in savings of around USD 8 billion for Sri Lanka.