Qatar's stock market retreated after Fitch cut its credit rating

Qatar's stock market retreated after Fitch cut its credit rating
    Qatar's stock market retreated after Fitch cut its credit rating
    Qatar's stock market fell 0.9% on Tuesday after Fitch downgraded its credit rating to its lowest close since early July, Reuters reported. Fitch Ratings yesterday downgraded Qatar's credit rating to AA- with a negative outlook, to match the rating of the agency with the ratings of two other major credit rating agencies, Moody's and Standard & Poor's.

     The downgrade threatens to raise the cost of financing for Qatari banks seeking to offset deposits and loans withdrawn by other Arab countries. 

    Shares of most Qatari banks fell, with Qatar National Bank falling 1.3 percent, Reuters said. Among the other active shares came Qatar Gas Transport , which fell 2.8%.
    Wael Elyamani
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    writer and blogger, founder of CTV Egypt News .

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