Moody's changes Qatar's rating outlook to negative

Baku. 5 July. REPORT.AZ/ Moody's Investors Service has today changed the outlook on Qatar's rating to negative from stable.

Report informs citing Moody's, the key driver for the outlook change to negative is the economic and financial risks arising from the ongoing dispute between Qatar and a group of countries, including its fellow Gulf Cooperation Council (GCC) neighbors Bahrain, Saudi Arabia and the United Arab Emirates (UAE).

In Moody's view, the likelihood of a prolonged period of uncertainty extending into 2018 has increased and a quick resolution of the dispute is unlikely over the next few months.

Notably, earlier "S&P" international rating agency downgraded Qatar's long-term rating from "AA" to "AA-".

Notably, on June 5, this year, Saudi Arabia, UAE, Bahrain, Egypt, Libya and Yemen cut diplomatic, trade and transport links with Qatar.