Qatar debt rating downgraded by S&P as riyal hits 11-year low

June 7, 2017 By Andrew Torchia DUBAI (Reuters) – Standard & Poor’s downgraded Qatar’s debt on Wednesday as the riyal currency fell to an 11-year low amid signs that portfolio investment funds were flowing out of the country because of Doha’s diplomatic rift with other Arab states. S&P cut its long-term rating of Qatar by one notch to AA- from AA and put the rating on CreditWatch with negative implications, meaning there was a significant chance of a further downgrade. The rating agency said Qatar’s economy would suffer from the…

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