Central Bank Deputy Governor W. A. Wijewardene told LBR that the credit rating would be in place early next year with bank funding for the whole process.rn
rnThe first steps have been taken to find a lquote rating advisory dblquote .rn
rnThe ldblquote rating advisory dblquote which will probably be an investment bank, will advice the government and help with its interaction with the rating agency. rn
rnA sovereign rating essentially gives an idea about the ability of the government to repay its debt.rn
rnldblquote Rating advisory dblquote is expected to be put in place within the next two months after which Central Bank will call expressions of interest from top credit rating agencies.rn
rnOfficials say the national credit rating is likely to be obtained from either Moodys, Standard & Poors or Fitch ratings the three globally recognised rating agencies.rn
rnCentral Bank Governor A S Jayawardene is scheduled to meet top officials from Fitch Ratings on the sidelines of the World bank IMF meeti