Moody's raises Sri Lanka's rating to 'Caa1'

BY Reuters | CORPORATE | 06:04 AM EST

Dec 23 (Reuters) - Credit ratings agency Moody's on Monday raised Sri Lanka's long-term foreign currency issuer rating to 'Caa1' from 'Ca', after the country's creditors approved a $12.55 billion debt overhaul last week.

Ratings agency Fitch had on Friday raised its long-term foreign-currency default rating on the island nation to 'CCC+' from 'restricted default'. (Reporting by Shashwat Awasthi; Editing by Mrigank Dhaniwala)

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