Moody’s downgrade of Sri Lanka ratings unwarranted, Finance Ministry

Following the announcement by Moody’s Investors Service downgrading Sri Lanka’s Sovereign rating, the Ministry of Finance has immediately responded saying the rating action is unwarranted and requested the foreign investors not to be dissuaded by the action

Sep 29, 2020
Image
a

Following the announcement by Moody’s Investors Service downgrading Sri Lanka’s Sovereign rating, the Ministry of Finance has immediately responded saying the rating action is unwarranted and requested the foreign investors not to be dissuaded by the action.

“We observe, with disappointment, today’s rating downgrade by Moody’s Investors Service and the recent release of an erroneous analysis by an international investment bank expressing concerns about Sri Lanka’s economic and financial strength and external debt service capacity,” the Finance Ministry said in a release.

“Foreign investors are invited not to be dissuaded by the recent unwarranted rating downgrade and the erroneous analysis published recklessly, but to be guided by improving economic conditions,” the Ministry said.

http://www.colombopage.com/archive_20B/Sep28_1601316014CH.php