BUSINESS
Fitch Ratings downgraded a record 33 sovereign ratings - Economo
BUSINESS

Fitch Ratings downgraded a record 33 sovereign ratings - Economo

Published: July 5, 2020  |  3 min read, 550 words
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Fitch Ratings downgraded a record 33 sovereign ratings in the first half of this year and the agency is not over yet, as the coronavirus pandemic threatens the sustainability of public finances.James McCormack, global head of Fitch’s sovereign ratings, said the agency had rated the credit ratings of 40 countries or sovereign entities as “negative”. This means that these ratings may be lowered.“Never in the history of Fitch Ratings have we had 40 countries with negative prospects at the same time”, said James McCormack. “This is happening after we have already lowered 33 sovereign ratings in... READ MORE
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