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Sri Lanka's Credit Rating Upgraded Amid Economic Recovery

9/20/2025

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Summary

Story summary

S&P Global Ratings upgraded Sri Lanka's sovereign credit ratings to 'CCC+/C' on September 19, 2025, due to stable economic recovery and fiscal reforms.
The outlook is stable, despite high debt and interest burdens.
Government debt is projected at 101% of GDP in 2025, declining to 93.4% by 2028.
Strong remittance flows and tourism have led to a current account surplus in 2023.
The ruling National People's Power party's supermajority supports political stability and ongoing IMF reforms.

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Story summary

S&P Global Ratings upgraded Sri Lanka's sovereign credit ratings to 'CCC+/C' on September 19, 2025, due to stable economic recovery and fiscal reforms.
The outlook is stable, despite high debt and interest burdens.
Government debt is projected at 101% of GDP in 2025, declining to 93.4% by 2028.
Strong remittance flows and tourism have led to a current account surplus in 2023.
The ruling National People's Power party's supermajority supports political stability and ongoing IMF reforms.