Credit rating agencies were hasty to downgrade SL - Dr. Coomaraswamy

Colombo (News 1st) - Dr. Indrajit Coomaraswamy stated that it's gotten tougher on the economy with the uncertainty in the country over the last 6 weeks. He also stated that credit rating agencies were hasty to downgrade Sri Lanka because the underlying fundamentals have not changed and there has been no significant slippage in policy and the different indicators have not deteriorated in any material way. He then noted that in his view they should have waited till the court processes were completed and there was greater clarity on the political situation.