Fitch Ratings announces changes to Sri Lanka’s national rating scale

Fitch Ratings has announced the recalibration of Sri Lanka’s National Rating Scale to reflect changes in the relative creditworthiness of issuers operating in the country.

In a statement, Fitch said the recalibration follows its decision on September 22, 2026, to upgrade Sri Lanka’s sovereign Long-Term Local-Currency Issuer Default Rating (IDR) from ‘CCC+’ to ‘B-’ with a Stable Outlook.

According to Fitch, the recalibration could result in rating revisions for some issuers currently holding Sri Lankan national ratings.

The international credit rating agency stated that any such rating revisions will be announced shortly.

Fitch explained that national scale ratings are designed to rank issuers according to their relative credit risk within a particular market, helping local investors distinguish between different levels of risk.

Sri Lanka’s national ratings carry the identifier ‘(lka)’, which distinguishes them from ratings assigned under Fitch’s international rating scales.

The agency further clarified that national scale ratings cannot be directly compared with its international ratings or the national rating scales of other countries. (Newswire)

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