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Rising risk of Sri Lankan banks defaulting on their obligations: S&P

This trend is expected to persist until the Sri Lanka's external situation stabilises, which may take time, S&P said in a statement

Topics
sri lanka | S&P ratings | Mahinda Rajapaksa

Abhijit Lele  |  Mumbai 



People wait in a queue to buy petrol at a fuel station, amid the country's economic crisis in Colombo (Photo: Reuters)
People wait in a queue to buy petrol at a fuel station, amid the country's economic crisis in Colombo (Photo: Reuters)

There is a rising risk of Sri Lankan banks defaulting on their obligations, especially those in foreign currency, including deposits and trade finance products, rating agency Standard & Poor's said on Friday.

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First Published: Fri, May 27 2022. 10:31 IST

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