Fitch Ratings has assigned Sri Lanka's forthcoming US dollar-denominated global bonds due 2019 an expected rating of 'BB-(EXP)'.
The final rating is contingent on the receipt of final documentation conforming to information already received. The expected rating is in line with Sri Lanka's Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BB-' with Stable Outlook. The sovereign's Long-Term Local Currency IDR is also 'BB-' with Stable Outlook, says the Reuters.
Sri Lanka's 'BB-' IDRs reflect the following key rating drivers: - Relatively strong growth, a comparatively high level of human development and a solid payment record.