Sri Lanka, Jan. 23 -- Fitch Ratings has upgraded the National Long-Term Ratings of seven Sri Lankan non-financial corporates and revised the ratings of two following the recalibration of the agency's Sri Lankan National Rating scale to reflect changes in the relative creditworthiness among the country's issuers. This follows the upgrade of the sovereign's Long-Term Local-Currency Issuer Default Rating (IDR) to 'CCC+' from 'CCC-' on 20 December 2024. Fitch has also affirmed the National Long-Term Ratings of 13 non-financial corporates.
For details, see Fitch Ratings Recalibrates Sri Lanka's National Rating Scale, published 16 January 2025. Revision ratings are used to modify ratings for reasons that are not related to credit quality. A full...