Downgraded ratings done in haste, asserts CB Governor

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Sri Lanka was on Tuesday downgraded by two of the top rating agencies in the world, Fitch and Moody’s, which is not favourable and done in haste, stressed Governor of the Central Bank of Sri Lanka Dr. Indrajith Coomaraswamy.

Addressing top corporates at the CA Sri Lanka Annual Report Awards held at the Shangri-La Hotel in Colombo on Tuesday, Dr. Coomaraswamy said the actions of the rating agencies have been superficial, hasty and involuntary.

In fact, the International Monetary Fund had requested the agencies to wait till the Supreme Court’s decision, he added. The Supreme Court is currently hearing two petitions, one of which is challening the dissolution of Parliament by the President. (Raj)

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