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BRIEF-S&P says Qatar long-term rating lowered to 'AA-'; on watch negative after six Arab countries sever ties‍​
June 7, 2017 / 5:03 PM / in 4 months

BRIEF-S&P says Qatar long-term rating lowered to 'AA-'; on watch negative after six Arab countries sever ties‍​

June 7 (Reuters) - S&P Global Ratings:

* revises Qatar sovereign credit outlook to creditwatch negative from negative; current rating is AA-‍​

* says Qatar long-term rating lowered to ‘AA-'; on watch negative after six arab countries sever ties

* says lowering long-term rating on Qatar to ‘AA-’ from ‘AA’ and placing it on creditwatch with negative implications‍​

* says believe dispute with Arab countries will exacerbate Qatar’s external vulnerabilities and could put pressure on economic growth, fiscal metrics

* says do not expect potential outflow of nonresident deposits to pose immediate and significant issues for Qatar’s banks

* says Qatar’s fiscal and current account deficits could widen as related revenues from regional trade diminish‍​

* says ‘A-1+’ short-term rating was affirmed

* imposition of air travel restrictions could have significant implications for Qatar Airways’ profitability‍​

* says currently no indication that Qatar’s main trade partners (Japan, South Korea, China, and India) will reconsider existing trade arrangements

* says expect economic growth to slow as corporate profitability is damaged because regional demand is cut off, investment is hampered Source text (bit.ly/2sTICjm)

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