Ratings agency Fitch upgraded Sri Lanka’s long-term sovereign credit rating from ‘CCC+’ to ‘B-’ on Tuesday, September 22, 2026, with a stable outlook, citing macro-stabilization policies and structural reforms that eased external financing risks, according to Reuters and the Xinhua news agency. Fitch cautions that the country’s credit profile remains constrained by high government debt-to-GDP and modest foreign exchange reserves. Sri Lanka defaulted on its external debt in 2022.