The international rating agency, Fitch Ratings downgrading Sri Lanka’s credit rating yesterday (29 February) from its earlier BB- to B+ is normal, said Colombo Stock Exchange Chairman Vajira Kulatilleke while responding to an inquiry by Ada Derana Biz.
While adding further, Vajira Kulatilleke said, “Initially there may be overreaction. This may cause some impact. Nobody can deny this. But this impact would be not as seriously as assumed. A step upwards or downwards in ratings is normal in this world.”
The CSE Chairman also pointed out that even the USA has had faced this problem in its ratings.