Rating Action:
Moody's assigns B2 rating to Sri Lanka's proposed senior unsecured US dollar bonds
07 Mar 2019
Singapore, March 07, 2019 -- Moody's Investors Service ("Moody's") has today assigned a B2 rating to the Government of Sri Lanka's proposed senior unsecured US dollar-denominated bonds.
The rating is based on the preliminary offering memorandum received on 7 March, 2019.
The bonds will rank pari passu with the Government of Sri Lanka's current and future senior unsecured external debt. The B2 rating assigned to the notes mirrors the Government of Sri Lanka's issuer rating of B2.
The proceeds of the bonds are intended to meet government expenditures.