Iraq Debt Rated Junk by Fitch on Conflict Cost, Oil Slump
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Fitch Ratings issued its first rating on Iraqi debt, assigning the fifth-worst junk grade in part due to the cost of civil conflict and a global slump in oil prices.
Iraq has a long-term foreign currency issuer default rating of B-, with a stable outlook, Fitch said in a statement Friday. That puts it with Cyprus and Jamaica and two levels above Greece and Ukraine, data compiled by Bloomberg show.