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Rating agencies downgrade Sri Lanka amid political crisis

Reuters  |  COLOMBO 

By Shihar AneezCOLOMBO (Reuters) - Credit rating agencies Fitch and Standard & Poor's downgraded Sri Lanka on Tuesday, citing refinancing risks and an uncertain policy outlook, after President Maithripala Sirisena's sacking of his prime minister in October triggered a political crisis. A bitter row over the ouster of former prime minister Ranil Wickremesinghe in October and the competing influences of China and India have shattered the island's fragile ruling coalition. Mahinda Rajapaksa, who replaced Wickremesinghe as prime minister, lacks a parliamentary majority and has been prevented by a ...

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First Published: Tue, December 04 2018. 18:28 IST