By John Lee.
S&P Global Ratings has placed its 'B-' long-term sovereign credit ratings on Iraq on CreditWatch with negative implications. It affirmed 'B' short-term foreign and local currency ratings and 'B-' transfer and convertibility assessment.
It added:
"The CreditWatch negative reflects the risk of a downgrade for Iraq due to a sharp fall in oil production tied to the increased escalation of the Middle East conflict."
More details, including economic stats, here.
(Source: S&P Global Ratings)
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