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flag Fitch upgrades Sri Lanka's rating after creditors approve a massive debt restructuring plan.

flag Fitch Ratings upgraded Sri Lanka's long-term foreign-currency rating to 'CCC+' from 'restricted default' after creditors approved a $12.55 billion debt restructuring plan. flag This follows a $2.9 billion IMF bailout last year. flag The restructuring involves swapping defaulted bonds for new fixed-income instruments, with potential interest rate cuts if governance targets are met. flag The upgrade indicates improved economic outlook and reduced default risk, though high debt levels persist.

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