Agost Benard Ratings Quotations

The ratings on Sri Lanka are vulnerable due to the country's high government debt and ongoing large fiscal deficits.

The downward trend in deficit reduction must be continued to warrant an upgrade. Something must be done to increase revenues and not in decreasing expenditures. Its underlying trends and processes that really drive our view on credit ratings versus the actual numbers per se.

In light of the bank's public policy role and the track record of strong support from the Indian government, Standard & Poor's equalizes its ratings on India EXIM with those on the sovereign.