"Going forward, RAM Ratings Lanka will closely monitor developments with regard to SLIC and changes that the state control may have on the Company in terms of strategic direction and operations."
Sri Lanka's Supreme Court ordered Distilleries Corporation of Sri Lanka to return SLIC to government on June 04, saying the deal was illegal and null and void from the beginning.
A positive outlook indicates that the underlying rating could be upgraded.
But the Distilleries could take out the profits earned during its stewardship of the firm, court said.