Fitch revises People’s Leasing view to negative

Fitch Ratings said it revised the outlook on People’s Leasing & Finance plc’s long-term foreign- and local-currency issuer default ratings to negative, from stable, and affirmed the ratings at B-.

The outlook revision follows Fitch’s April 24 downgrade of Sri Lanka’s rating to B- from B with a negative outlook, the agency said.

Fitch said it forecasts a 1% contraction in the country’s economy this year.

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