Wednesday, February 1 2023

Reuters

S&P pushes Sri Lankan bonds deeper into junk territory with ‘default’ rating

The South Asian nation, which had defaulted on a bond payment earlier this year and has $12 billion in overseas debt with private creditors, has been battling the worst financial crisis in its independent history. Sri Lanka’s external public debt freeze prevents payment of interest and principal obligations due on the government’s international sovereign bonds. S&P said it did not expect the Sri Lankan government, which remains in default on some foreign currency obligations, to make the bond payments within 30 calendar days after their due dates.

Source: Yahoo Sports

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