🇱🇰 Fitch Upgrades Sri Lanka's Credit Rating to 'CCC+' 📈

⭕ Long-Term Foreign-Currency IDR: Upgraded from 'RD' to 'CCC+'.
⭕ Local-Currency IDR: Raised from 'CCC-' to 'CCC+'.

Key drivers:
⭕ Successful restructuring of 96% of commercial external debt.
⭕ No foreign-currency bond repayments until 2029.
⭕ GDP recovery: +5.2% in Q3 2024 after 2022’s -7.4%.
⭕ Inflation reversed to -2.1% in Nov 2024 (from 67.2% in Sep 2022).

#SriLanka #Economy