Fitch could lower Qatar

Fitch Ratings said it placed Qatar's AA long-term foreign- and local-currency issuer default ratings on Rating Watch Negative (RWN).

The short-term foreign- and local-currency issuer default ratings of F1+ and the issue ratings of AA on Qatar's long-term foreign-currency senior unsecured bonds were also placed on RWN.

The country ceiling was affirmed at AA+.

Fitch said the ratings reflects the heightened uncertainty resulting from the decision of Saudi Arabia, the United Arab Emirates (UAE), Bahrain, Egypt and some other Arab countries to sever diplomatic and logistical ties with Qatar. While some discussions have taken place to resolve the crisis, it is becoming more likely that the crisis will be sustained and negatively affect Qatar's economy and its credit metrics, the agency explained.

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