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Fitch Ratings

Fitch downgrades Sri Lanka on rising default risk
Markets

Fitch downgrades Sri Lanka on rising default risk

  • Sri Lanka relies on tourism and garment exports for foreign exchange reserves. It's been hit hard by the pandemic.
  • We think there are now increasing risks to Sri Lanka's ability to meet its external debt repayments.
Published 28 Nov, 2020 12:25am
Fitch sees growing risk as Turkish lira hits new low
Markets

Fitch sees growing risk as Turkish lira hits new low

  • Double-digit inflation and depleted FX reserves "would significantly increase the chances" of a formal interest rate hike by year end.
  • The lira slid as much as 1.7% to a record low of 8.56 versus the dollar, despite the greenback's weakness as votes were still being counted in Tuesday's tight US election.
Published 06 Nov, 2020 05:50pm
Fitch affirms Russia at 'BBB', outlook stable
Business & Finance

Fitch affirms Russia at 'BBB', outlook stable

  • We forecast Russia to contract by 5.2% in 2020 due to the impact of the COVID-19 pandemic and containment measures on domestic demand and exports.
  • Russia is rated investment grade by the three big international rating agencies, including S&P Global Ratings and Moody's.
Published 08 Aug, 2020 02:27am