Fitch affirms SriLankan Government Guaranteed Bonds at ‘C’

Fitch Ratings has affirmed SriLankan Airlines Limited’s (SLA) USD 175 million government-guaranteed 7% unsecured bonds due 25 June 2024 at ‘C’. SLA’s US dollar bonds are part of the Government of Sri Lanka’s debt moratorium.

SLA’s bond rating is based on Fitch’s assessment of average- to below average recovery prospects to investors, using Fitch’s Corporates Recovery Ratings and Instrument Ratings Criteria, and Country-Specific Treatment of Recovery Ratings Criteria.