Rating Actions in Foreign Currency on January 27, 2022 Fitch | Cbonds Global

Rating Actions in Foreign Currency on January 27, 2022

Fitch Ratings:

affirmed Ethiopia at 'CCC', no outlook

downgraded Kuwait to 'AA-' from 'AA', revised outlook to stable from negative;
Reasons: "The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence, a generous welfare state and a large public sector. There has been a lack of meaningful underlying fiscal adjustment to recent oil-price shocks and the outlook for reforms remains weak, despite some positive political developments as part of a national dialogue." Fitch's press release.

affirmed Korea at 'AA-' with a stable outlook.