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Credit ratings

Sri Lanka's long-term foreign-currency rating from Fitch, Moody's and S&P: every rating action since the first rating in 2005.

82 rating actions since 2005

Fitch raises Sri Lanka to B-, its highest rating since November 2020

Long-term foreign-currency rating, 2005 to 2026; latest action 22 Sep 2026

Source: Fitch RatingsMacro Lab

Latest rating

Pick an agency to add or remove its line.

Every rating action

Newest first, including affirmations. A rating in bold is a change.

DateRatingActionSource
22 Sep 2026B- StableUpgradeFitch
1 Oct 2025CCC+AffirmedFitch
20 Dec 2024CCC+Upgrade out of defaultFitch
25 Sep 2024RDAffirmedFitch
28 Sep 2023RDAffirmedFitch
14 Sep 2023RDAffirmedFitch
5 Jul 2023RDAffirmedFitch
1 Dec 2022RDAffirmedFitch
19 May 2022RDRestricted defaultFitch
13 Apr 2022CDowngradeFitch
17 Dec 2021CCDowngradeFitch
14 Jun 2021CCCAffirmedFitch
27 Nov 2020CCCDowngradeFitch
24 Apr 2020B- NegativeDowngradeFitch
18 Dec 2019B NegativeAffirmed, outlook loweredFitch
27 Sep 2019B StableAffirmedFitch
3 Dec 2018B StableDowngradeFitch
6 Feb 2018B+ StableAffirmedFitch
9 Feb 2017B+ StableAffirmed, outlook raisedFitch
29 Feb 2016B+ NegativeDowngradeFitch
22 Apr 2015BB- StableAffirmedFitch
28 Apr 2014BB- StableAffirmedFitch
30 Apr 2013BB- StableAffirmedFitch
4 May 2012BB- StableAffirmedFitch
18 Jul 2011BB- StableUpgradeFitch
21 Sep 2010B+ PositiveOutlook raisedFitch
9 Oct 2009B+ StableOutlook raisedFitch
27 Feb 2009B+ NegativeOutlook loweredFitch
3 Apr 2008B+ StableDowngradeFitch
23 Apr 2007BB- NegativeAffirmedFitch
27 Apr 2006BB- NegativeOutlook loweredFitch
8 Dec 2005BB- StableFirst ratingFitch

About these ratings

  • A rating is the agency's opinion of how likely Sri Lanka is to repay its foreign-currency debt. They are shown here for reference; the official record is on each agency's site: Fitch Ratings, Moody's Ratings, S&P Global Ratings.
  • Dates are the agencies' release dates. Colombo newspapers usually report an action a day later.
  • SD (S&P) and RD (Fitch) mean selective or restricted default: Sri Lanka stopped paying its foreign debt on 12 April 2022 and completed its bond exchange in December 2024. S&P kept SD until September 2025, over one unrestructured SriLankan Airlines bond.
  • Moody's grades are drawn beside their S&P and Fitch equivalents: B1 is B+, B2 is B, Caa1 is CCC+, Caa2 is CCC, Ca is CC. Fitch gives no outlook at CCC+ and below.
  • The agencies also rate Sri Lanka's rupee (local-currency) debt and publish short-term ratings and country ceilings; this page follows the long-term foreign-currency rating only. The rupee rating has mostly been the same or a notch higher, and moved separately during the 2022–24 default and the 2023 domestic debt restructuring. Each agency's site has the full set.