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ID:8228158
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时间:2018-03-11
《穆迪-信贷-qatar’s credit market risk signals elevated as economic and political boycott continues-20170710-moody’s》由会员上传分享,免费在线阅读,更多相关内容在行业资料-天天文库。
1、SOVEREIGNANDSUPRANATIONALSECTORIN-DEPTHSovereignRiskReport10July2017Qatar’sCreditMarketRiskSignalsElevatedasEconomicandPoliticalBoycottContinuesTheeconomicanddiplomaticsanctionsimposedbySaudiArabia,theUAE,Bahrain,andContactsEgyptagainstenergy-richQatarareexpectedtoescalateafterQatarhasrefusedto
2、acceptIrinaBarontheirdemandsoverallegationsthatitsupportsextremistideology.A13-pointlistofAsstDir-ResearchdemandsincludedshuttingdownmediaoutletslikeAlJazeera,curbingtieswithIran,andAssociateirina.baron@moodys.comendingTurkey’smilitarypresenceonitssoil.Followingthesanctions,Qatar’sSovereignEDFT
3、M(ExpectedDefaultFrequency)metric1,showninExhibit1,increasedto0.53%onJuneXianLi212-553-1404SeniorResearch29—itshighestlevelsince2010.TheEDFhassincedeclinedslightly,butremainselevatedatAnalystitscurrentlevelof0.52%.xian.li@moodys.comOnJuly4,Moody’sInvestorsServicechangedtheoutlookforGovernmentof
4、Qatar'sratingABOUTCAPITALMARKETSRESEARCHtonegativefromstableandaffirmedthelong-termissuerandseniorunsecureddebtratingsAnalysesfromMoody’sCapitalMarketsatAa3,citingthelikelihoodofaprolongedperiodofuncertaintyextendinginto2018,whichResearch,Inc.(CMR)focusonexplainingcarriestheriskthatQatar’ssover
5、eigncreditfundamentalscouldbenegativelyaffected2.signalsfromthecreditandequitymarkets.ThepublicationsaddresswhethermarketThecreditchallengesQatarfacesinclude(1)economicandfinancialrisksarisingfromitssignals,intheopinionofthegroup’sanalysts,ongoingdisputewiththesanctioningcountries;(2)relatively
6、highlevelsofgovernmentdebtaccuratelyreflecttherisksandinvestmentandwiderpublic-sectordebt;(3)asharpincreaseintotalexternaldebt;and(4)institutionalopportunitiesassociatedwithissuersandtransparencyrelativelylessthanotherhighly-ratedsovereigns.sectors.CMRresearchthuscomplementsthefundamentally-ori
7、entedresearchofferedbyMoody’sInvestorsService(MIS),theratingMarket-basedmeasuresofcreditriskfortheMiddleEast&Africaregionmostlyincreasedagency.overthepastweek.TheUSLaborDepartment’sreportonJuly7ofstrongerthanexpectedjobsdataincrea
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