<span style="color: #222222;">Two of the world's largest credit rating agencies have warned that Sri Lanka is about to default on its debts. Fitch Ratings lowered its assessment of Island nation, saying a sovereign default process has begun. Agency's latest rating puts Sri Lanka at near default and indicated that its payment capacity is irrevocably impaired.<br />''<br />''On other hand, S&P Global Ratings made a similar announcement and said that a default is now a virtual certainty. The ratings agency said it was waiting for more details on Sri Lanka's debt restructuring plan, or confirmation that its government had failed to pay its creditors.<br />''<br />''Earlier, this week, Sri Lanka said it will temporarily default on its foreign debts as it faces its worst economic crisis in more than 70 years.<br />''<br />''Meanwhile, faced with mass protests over major power cuts and the soaring cost of food and fuel, officials urged Sri Lankans working abroad to send money home.<br />''<br />''The new governor of the country's central bank appealed for donations in sterling, US dollars and euros on Wednesday.</span><br />