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Message: <blockquote data-quote="lkdood" data-source="post: 12199143" data-attributes="member: 92282"><img src="http://upload.wikimedia.org/wikipedia/commons/thumb/d/d2/Standard%26Poors.svg/100px-Standard%26Poors.svg.png" alt="" class="fr-fic fr-dii fr-draggable " style="" />Standard & Poor's Ratings Services has lowered its outlook on Sri  Lanka's 'B+' long-term foreign currency sovereign credit rating to  stable from positive because of falling foreign reserves and fiscal  problems.The rating agency at the same time downgraded Sri Lanka's long-term  local currency rating to 'B+' from 'BB-', while affirming the 'B'  short-term local currency rating. S & P has confirmed Sri Lanka's B+ foreign currency rating. A statement from S&P said the stable outlook reflects Sri Lanka's  strong growth prospects but that high debt levels and budget deficits  remain concerns. "Sri Lanka's reserves have fallen to three months coverage of its  current account payments as of end-2011 from roughly four months in the  middle of 2011," S&P said. "Given the lower reserves and continued fiscal pressures, we are  revising the outlook on our 'B+' long-term foreign currency sovereign  rating on Sri Lanka to stable from positive. "We are equalizing our long-term local currency sovereign rating with  the foreign currency sovereign rating at 'B+'. The outlook is stable,"  it said. "We are affirming our 'B+' long-term foreign currency rating and 'B'  short-term foreign and local currency ratings on Sri Lanka." LBO</blockquote>

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