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Fitch warned about a risk due to closure of Strait of Hormuz

Fitch warned about a risk due to closure of Strait of Hormuz

Fitch has indicated that it has maintained Iraq’s credit rating at B-, a degree of risk and a stable outlook. Fitch issued a statement and warned about the backlashes of the outbreak of antagonistic actions leading to the closure of the Strait of Hormuz. It is due to Iraq lacks other routes of export of oil in the south. Fitch also estimated that the closure of the strait for a month could result in Iraq losing 6.5 billion U.S dollars…

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