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| Sunday, 19 October 2003 |
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| News Business Features Editorial
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Govt. to obtain credit ratings from international agencies? Government has decided to put its creditworthiness to the test and obtain sovereign credit rating from two or more international rating agencies. It would mean, quantitatively, assessing economic and financial performance and qualitatively, appraising political risks and policy developments. Most countries bear ratings from two or three rating agencies. Sri Lanka proposes to obtain its ratings from Fitch Rating International, which has an office in Colombo and Standard and Poor's and Moody's, a Central Bank top brass said. Government has no short-term plan to raise funds by issuance of bonds in the international capital markets, it reliably learned. However, a sovereign rating would, besides, facilitate the private sector in their dealing with the international community. If Sri Lanka decides to go to the international capital markets to raise funds in the future, it would help to maintain a good relationship with international investors and abet awareness and perception of the nation. (EL) |
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