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"The current political crisis in Sri Lanka is credit negative for the sovereign," Matthew Circosta, Analyst, Sovereign Risk Group, Moody’s Investors Service said in a statement.
"The President’s sudden appointment of Mr Rajapaksa as Prime Minister significantly heightens policy uncertainty."
"Additionally, the possible social tensions that may unfold in the next few weeks would have a negative impact on the economy, which is already growing slowly.
"And at a time when global financial markets are turbulent, uncertainty about the direction of future policy could have a large and lasting negative impact on international investor confidence.
"Such a development would undermine Sri Lanka’s ability to refinance forthcoming external debt in early 2019 at affordable costs."
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