Sri Lanka sovereign rating downgraded to Caa2 by Moody’s Thursday October 28, 2021 4:04 pm ECONOMYNEXT – Moody’s Investors Service has downgraded Sri Lanka’s sovereign rating to Caa2 from Caa1, taking the country’s credit deeper into speculative grade as foreign reserves continued to fall amid money printing and crippled forex markets. “A large financing envelope that Moody’s considers to be secure remains elusive and the sovereign continues to rely on piecemeal funding such as swap lines and bilateral loans, although prospects for non-debt generating inflows have improved somewhat…
Read MoreSri Lanka downgraded by MOODY’s and the Government call it ill-timed
