Fitch affirms Sri Lanka

Fitch Ratings said it affirmed Sri Lanka's foreign- and local-currency issuer default ratings at BB-. The outlook for both ratings is stable.

The agency said it also affirmed the country ceiling at BB-, and the short-term foreign currency issuer default rating at B.

"The ratings reflect Fitch's view that the authorities have taken the appropriate action to correct recent pressure on the balance of payments and place it on a more sustainable trajectory," said Philip McNicholas, director in Fitch's Asia-Pacific sovereign ratings group, in a news release.

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