S&P AFFIRMS SRI LANKA RATINGS AT B+/B WITH OUTLOOK STABLE

SINGAPORE -Standard & Poor's has affirmed its 'B+' long-term and 'B' short-term sovereign credit ratings on Sri Lanka, and says the outlook remains stable. “We also affirmed the recovery rating at '4'. The transfer and convertibility (T&C) assessment is unchanged at 'B+'.” S&P says the ratings reflect its view of Sri Lanka's weak external liquidity - a moderately high and increasing net external liability position. “Additional rating constraints include the country's fundamental fiscal weaknesses, and the attendant high government debt and interest burdens.