Global ratings agency S&P Global on Monday cut its rating on Sri Lanka's bonds two notches down to 'D', following missed interest and principal payments.
"We do not expect the government to make the payments within 30 calendar days after their due dates," S&P said in a statement. (https://bit.ly/3SSBsse)
The ratings agency affirmed the outlook for Sri Lanka at 'negative'.
(Reporting by Richard Rohan Francis in Bengaluru; Editing by Shinjini Ganguli)