Mubasher: Lower commodity prices in emerging economies still impact sovereign credit ratings which are on track for downgrades in 2016, according to Fitch Ratings.
The first half of 2016 saw 15 downgrades compared with the previous annual high of 20 in 2011, and 22 ratings are on negative outlook.
“The Middle East and Africa region accounts for more than half of the negative rating actions in 1H16 and 10 of the 22 Negative Outlooks assigned currently,” Fitch said in a statement.
