OPEC nations face credit downgrades as crisis drags on ...United Arab Emirates

Russia Today - Economy

The coronavirus pandemic and the oil price collapse are rapidly deteriorating the sovereign rating outlook - with more multi-notch downgrades on the way, Fitch Ratings said in a statement. “We will continue to assess sovereign creditworthiness case-by-case as the crisis and policy responses evolve, and this commentary does not identify specific sovereigns that might be vulnerable to multi-notch downgrades. However, conditions that have typically formed the backdrop to such rating actions in the past are clearly coalescing again,” Fitch Ratings said. Just last week, Fitch downgraded Gabon, a small OPEC producer, in a multi-notch down

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