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BRIEF-Fitch says downgrades Qatar to 'AA-'; outlook negative
August 28, 2017 / 9:35 AM / 3 months ago

BRIEF-Fitch says downgrades Qatar to 'AA-'; outlook negative

Aug 28 (Reuters) -

* Fitch downgrades Qatar to ‘AA-'; outlook negative

* Fitch says expect Qatar’s sovereign net foreign assets to fall to 146% of GDP in 2017

* Fitch says believes Qatar’s diplomatic and logistical isolation by some of its neighbours is unlikely to be resolved for some time

* Fitch says expect Qatar’s GDP growth to slow to 2.0% in 2017 and 1.3% in 2018-2019, from 2.2% in 2016

* Fitch says downgraded Qatar’s long-term IDRS to ‘AA-’ from ‘AA’ and removed them from rating watch negative where they were placed on 12 June 2017

* Fitch on qatar says expect outflows of non-resident funding from Qatar’s banks to continue, albeit at a slower pace than in june-july

* Fitch on Qatar says expect pace of fiscal consolidation to slow

* Fitch says forecast Qatar government’s fiscal deficit to narrow to 3.2% of GDP in 2017 from 4.9% of GDP in 2016

* Fitch on Qatar says “full financial and economic impact of embargo is uncertain and could prove to be larger than we currently expect” Source text for Eikon:

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