Fitch Places 12 Sri Lankan NBFIs on Rating Watch Negative
Release time:2022-04-27 Publisher:South Asia Development
Fitch Ratings has placed the National Long-Term Ratings of 12 Sri Lankan non-bank financial institutions (NBFIs) on Rating Watch Negative.
The RWN reflects heightened downside risks to the non-bank financial institutions’ credit profiles amid increased economic and financial-market volatility in Sri Lanka.
This risk is increased by the deteriorating sovereign credit profile with the Long-Term Foreign-Currency Issuer Default Rating C, the Long-Term Local-Currency Rating CCC and also the ensuing risks to the stability of the financial system.
Fitch Ratings said the non-bank financial institutions’ credit profiles are being pressured by Sri Lanka’s challenging operating environment, with significant near- to medium-term downside risk presented by the weakening sovereign credit profile.
It said this could further impair the economy and weigh on financial market performance, raising downside risks to institutions’ asset quality and earnings.
Last article：China-SE Asia trade up as production resumes
Next article:Apple supplier suspends production at two China factories
Hot topicMore>>
Shanghai reports new COVID cases, hospit..
Shanghai reports new COVID cases, hospitals' re-openings con..[See details]
2022-05-21 88:20
Chinese mainland records 201 new confirm..
Chinese mainland records 201 new confirmed COVID-19 cases[See details]
2022-05-21 85:37
Ten months remain before Fukushima disch..
Ten months remain before Fukushima discharge[See details]
2022-05-19 53:57
Chinese mainland records 212 new confirm..
Chinese mainland records 212 new confirmed COVID-19 cases[See details]
2022-05-19 33:35
Senior Chinese diplomat warns U.S. again..
Senior Chinese diplomat warns U.S. against playing 'Taiwan c..[See details]
2022-05-19 94:31
