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Fitch cuts Singer (Sri Lanka)
Fitch Ratings said it downgraded Singer (Sri Lanka) plc's national long-term rating to BBB+(lka), from A-(lka). The outlook is negative.
“The downgrade and negative outlook reflect the significant business interruption from the coronavirus pandemic and the likely implications of a downturn in discretionary consumer spending, which we expect to extend into early 2021,” the agency said in a news release.
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