Sri Lanka Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Caa1 Stable | CCC+ Stable | CCC+ — | NR | NR |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Sep 19, 2025 | S&P | CCC | Negative | CCC+ | Stable | |
| Dec 23, 2024 | Moody's | Ca | Under Review | Caa1 | Stable | |
| Dec 20, 2024 | Fitch | RD | — | CCC+ | — | |
| Nov 28, 2024 | Moody's | Caa2 | Stable | Ca | Under Review | |
| May 19, 2022 | Fitch | CC | — | RD | — | |
| Jan 12, 2022 | S&P | CCC+ | Negative | CCC | Negative | |
| Dec 17, 2021 | Fitch | CCC | — | CC | — | |
| Oct 28, 2021 | Moody's | Caa1 | Under Review | Caa2 | Stable | |
| Aug 27, 2021 | S&P | CCC+ | Stable | CCC+ | Negative | |
| Jul 19, 2021 | Moody's | Caa1 | Stable | Caa1 | Under Review | |
| Dec 11, 2020 | S&P | B- | Stable | CCC+ | Stable | |
| Nov 27, 2020 | Fitch | B- | Negative | CCC | — | |
| Sep 28, 2020 | Moody's | B2 | Under Review | Caa1 | Stable | |
| May 20, 2020 | S&P | B | Negative | B- | Stable | |
| Apr 24, 2020 | Fitch | B | Negative | B- | Negative | |
| Apr 17, 2020 | Moody's | B2 | Stable | B2 | Under Review | |
| Jan 14, 2020 | S&P | B | Stable | B | Negative | |
| Dec 18, 2019 | Fitch | B | Stable | B | Negative | |
| Dec 04, 2018 | S&P | B+ | Stable | B | Stable | |
| Dec 03, 2018 | Fitch | B+ | Stable | B | Stable |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CCC | CC |
C | CCC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Sri Lanka’s current credit rating?
Sri Lanka’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Sri Lanka’s credit risk.
Has Sri Lanka’s credit rating changed recently?
This page lists the latest rating and outlook actions for Sri Lanka, showing when each agency last reviewed or changed its assessment.
Why does Sri Lanka’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Sri Lanka's bond yields, currency, and equity flows as investors reassess risk.
How does Sri Lanka’s rating compare to other countries?
You can explore how Sri Lanka ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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