 "Sri Lanka")
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.
This trend is expected to persist until the sovereign's external situation stabilises, which may take time, S&P said in a statement.
ALSO READ - Need to restructure debts to be able to pay it back: Sri Lankan Bank Gov
The rating agency considers an entity to have defaulted if it doesn't make payments on its obligations within five business days of the due
This trend is expected to persist until the sovereign's external situation stabilises, which may take time, S&P said in a statement.
ALSO READ - Need to restructure debts to be able to pay it back: Sri Lankan Bank Gov
The rating agency considers an entity to have defaulted if it doesn't make payments on its obligations within five business days of the due
