S&P pushes Sri Lankan bonds deeper into junk territory with 'default' rating

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S&P pushes Sri Lankan bonds deeper into junk territory with 'default' rating

Global ratings agency S&P Global on Monday slashed its rating on Sri Lankan bonds to 'D', representing default, following missed interest and principal payments. The South Asian nation, which had defaulted on a bond payment earlier this year and has $12 billion in overseas debt with private creditors, has been battling the worst financial crisis in its independent history. Sri