financetom
World
financetom
/
World
/
Sri Lanka international bonds rally after Moody's statement
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Sri Lanka international bonds rally after Moody's statement
Nov 28, 2024 1:04 AM

LONDON, Nov 28 (Reuters) - Sri Lanka international bonds

jumped more than 1 cent on Thursday after Moody's said it put

the country's foreign issuer rating on review for an upgrade and

would rate the full sweep of instruments issued as part of the

current debt exchange.

The country's 2030 bond enjoyed the biggest gain, up 1.1

cent in the dollar to be bid at 65.96 cents - lifting it to its

highest level since June 2021, Tradeweb data showed.

Sri Lanka is in the midst of a bond swap launched on

Tuesday, an important part of the island nation's ongoing $12.55

billion debt restructuring and efforts to stabilize the economy.

Moody's said late on Wednesday that it may raise Sri Lanka's

'Ca' long-term foreign currency rating following the

government's bond-exchange offer aimed at completing the

restructuring of international bonds.

The agency said it provisionally rated the new U.S.

dollar-denominated debt offerings 'Caa1', including macro-linked

bonds (MLBs), a governance-linked bond (GLB), and stepup and

past-due interest bonds. That rating would be three notches

above the current sovereign rating.

MLBs have a downside on principal and the GLB is the first

of its kind, which had raised doubts about whether agencies

would rate the instruments.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Asian Equities Traded in the US as American Depositary Receipts Rise in Monday Trading
Asian Equities Traded in the US as American Depositary Receipts Rise in Monday Trading
Jun 15, 2026
10:45 AM EDT, 06/15/2026 (MT Newswires) -- Asian equities traded in the US as American depositary receipts kicked off the week sharply higher Monday morning, rising 1.60% to 2,893.65 on the S&P Asia 50 ADR Index. From North Asia, the gainers were led by Korea Electric Power ( KEP ) and travel company Tuniu ( TOUR ) , which rose...
Lower Oil Prices Reduce Chance of Bank of Canada Rate Hikes, While Increasing Cuts Chance, Says RBC
Lower Oil Prices Reduce Chance of Bank of Canada Rate Hikes, While Increasing Cuts Chance, Says RBC
Jun 15, 2026
11:25 AM EDT, 06/15/2026 (MT Newswires) -- RBC on Monday said its base case is for the Bank of Canada to be on hold this year with a greater chance of hikes than cuts. However, lower oil prices reduce the chance of hikes and increase the chance of cuts, noted the bank. RBC argues that oil is singularly keeping yields...
GLOBAL MARKETS-Shares and bonds cheer as oil slides on Iran deal
GLOBAL MARKETS-Shares and bonds cheer as oil slides on Iran deal
Jun 15, 2026
* US and Iran agree peace proposals, to open Strait of Hormuz * Nikkei, Kospi, DAX and CAC40 all surge, Wall St futures jump * US dollar eases as Treasury yields fall * Markets pare risk of interest-rate hikes globally (Updates ahead of US market open) By Marc Jones LONDON, June 15 (Reuters) - Share markets and bonds rallied on...
European Equities Traded in the US as American Depositary Receipts Surge in Monday Trading
European Equities Traded in the US as American Depositary Receipts Surge in Monday Trading
Jun 15, 2026
11:09 AM EDT, 06/15/2026 (MT Newswires) -- European equities traded in the US as American depositary receipts started the week significantly higher late Monday morning, climbing 1.83% to 2,900.33 on the S&P Europe Select ADR Index. From continental Europe, the gainers were led by accommodations booking site trivago (TRVG) and semiconductor company Sequans Communications ( SQNS ) , which rose...
Copyright 2023-2026 - www.financetom.com All Rights Reserved