VOL NO REGD NO DA 1589

Friday, December 09, 2005

HEADLINE

POLITICS & POLICIES

METRO & COUNTRY

VIEWS & REVIEWS

EDITORIAL

LETTER TO EDITOR

COMPANY & FINANCE

BUSINESS & FINANCE

TRADE/ECONOMY

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

FE Education

Urban Property

Monthly Roundup

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

WOMEN & ECONOMY

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

BUSINESS & FINANCE
 
Sri Lanka wins first international credit rating
12/9/2005
 

          COLOMBO, Dec 8 (AFP): Sri Lanka was awarded its first international credit rating Thursday, setting the stage for it to issue bonds and raise money to help rebuild its war-damaged and tsunami-hit economy.
Fitch Rating gave the tropical island nation a sovereign rating of BB-minus with a long-term stable outlook. BB-minus is considered a speculative investment grade.
The government had no immediate comment on the announcement which came hours before it was due to release a budget expected to be laden with subsidies.
Financial analysts said the government will want to use the rating to help raise around 500 million dollars through an international bond issue next year for reconstruction efforts.
Despite a long-running conflict with Tamil Tiger rebels in the northeast, "Sri Lanka has proved resilient to adverse shocks over a long period of time, its institutions are strong and it has an unblemished debt service record," Fitch Ratings International said.

 

 
  More Headline
Top developing counrtries seen key to WTO deal next week
Pilots' strike cripples Korean Air
ASEAN trade talks with E Asian partners hit snag over rice
Dhaka Mercantile Co-operative Bank holds managers' conference
Sri Lanka wins first international credit rating
WB lauds China for changes in company law
France aims at 'overall pact' on reduced VAT in EU
Pioneer to cut 600 more jobs
EDF to cut 6,000 jobs, invest $40b
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com