Moody's rating great news for business - MD Chartis

"The economic and financial story of Sri Lanka is great news.

I think Moody's Investor Service's recent ratings said it best," said Managing Director Chartis, Chris Tragakis.

Moody's assigning a B1 sovereign rating to Sri Lanka on September 22, is great news for business in this country. We in the insurance industry should be wise to conform our actions in going forward.

Tragakis said that the end of the civil conflict and a structural improvement in the economic prospects were important considerations for the ratings.

The stable outlook balances ongoing policy efforts to improve fiscal and balance of payments fundamentals and maintain low inflation, against a large, but improving, government debt overhead.

Moody's four methodological factors for framing Sri Lanka's rating are:

Low economic strength, Medium institutional strength, Low government financial strength and Medium susceptibility to event risk.

He said that Vietnam after 30 years gets massive investments. (SG)