Jan 12 (Reuters) - Sri Lankan shares ended higher on Wednesday, after two straight sessions of losses, boosted by communication services stocks. * At the close of trade, the CSE All-Share index (.CSE) was up 0.33% at 13,122.95. * Telecom firms Sri Lanka Telecom Plc (SLTL.CM) and Dialog Axiata Plc were the top boosts to the index, rising 24.8% and 6.4%, respectively. * Foreign investors were net sellers in the equity market, offloading shares worth 223.2 million rupees ($1.10 mln), while domestic investors were net buyers of shares worth 7.67 billion rupees, exchange data showed. * The equity market"s turnover was 7.77 billion rupees. * Trading volume fell to 317.3 million shares, from 357.5 million shares in the previous session. * The South Asian country is facing its worst financial crisis in decades with foreign exchange reserves shrinking. * Sri Lanka has to also repay about $4.5 billion in debt this year, with a $500 million International Sovereign Bond maturing next week. * The governor of Sri Lanka"s central bank said on Wednesday the government would meet all debt repayments in 2022 and work on a more comprehensive plan to address its dwindling foreign exchange reserves. read more * S&P Global Ratings earlier in the day lowered its long-term sovereign credit rating on Sri Lanka to "CCC", from "CCC+", saying the country"s external position continues to weaken due to elevated external obligations and an uneven access to financing. * S&P said Sri Lanka"s economic recovery would be challenged by the ongoing pandemic and external financial stresses. * The ratings agency forecast real gross domestic product growth of 2.2% this year, compared with its estimate of 3% expansion in 2021. * For a report on global markets, click ($1 = 202.7500 Sri Lankan rupees)