Business Health

Maldives’ rating downgraded as recession looms

Fitch Ratings downgraded the Maldives to B from B+ and revised its outlook to negative from stable, as the Covid-19 pandemic hits the island nation’s tourism industry.

The Maldives’ economy is expected to be pummelled by the Covid-19 outbreak, as the nation relies on tourism to stay afloat. The Maldives has recorded fewer than 20 cases of the virus, and nearly all were attributed to foreigners.

Full details are available at the link below:

Source URL: Bing News :

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of