S&P Global downgrades Qatars rating to AA-
The Dollar Business Bureau Credit rating agency S&P Global Ratings on Wednesday lowered the credit rating of Qatar by one level to AA- and put the country on a watch on concerns of further downgrading after four Gulf Arab nations severed ties with Doha. “We believe this will exacerbate Qatar's external vulnerabilities and could put pressure on economic growth and fiscal metrics,” S&P Global said. Saudi Arabia, Bahrain, Egypt and the UAE on Monday announced that they were severing diplomatic relations and closing air, land and sea links with Doha. Saudi Arabia and its allies alleged that Qatar is providing support to extremist groups and serving the interests of Riyadh’s regional rival Iran, claims which Doha has strongly declined. “At this ...
Rating agencies far from India's ground realities: Shaktikanta Das
PTI Upset over not getting a rating upgrade, India has lashed out at global rating agencies saying they are far detached from ground realities and must introspect as the reforms initiated certainly warranted an upgrade. Economic Affairs Secretary Shaktikanta Das said India was being denied an upgrade even as growth and fundamentals improve. In past too, India has questioned the methodology used by global rating agencies saying the nation compares favourably with other emerging countries on metrics such as default risk. In particular, it points to S&P Global Ratings keeping China at AA- despite rising debt and slowing growth while India has been kept at one step above junk. Moody's and Fitch too give similar rating citing ...
