Fitch Ratings, a leading credit rating agency, upgraded Sri Lanka’s credit ratings on September 22, 2026.
Accordingly,
- The Long-Term Foreign-Currency Issuer Default Rating was upgraded from CCC+ to B-.
- The Short-Term Foreign-Currency Issuer Default Rating was upgraded from C to B.
- The Long-Term Local-Currency Issuer Default Rating was upgraded from CCC+ to B-.
- The Short-Term Local-Currency Issuer Default Rating was upgraded from C to B.
Fitch Ratings expects the Long-Term Foreign-Currency and Long-Term Local-Currency ratings to remain unchanged over the next one to two years.
The following factors contributed to the upgrade:
- Macroeconomic stabilization policies and reforms
- Increased government revenue
- Gradual growth in foreign exchange reserves