What did Fitch do during the revolution?
Fitch Ratings downgraded Libya’s credit rating today, saying the move “reflects the eruption of political risk evidenced by the increasing momentum of the popular uprising aimed at ending Muammar Gadhafi’s 42-year rule.” The rating agency downgraded the oil-rich North African nation to BBB from BBB-plus and warned a further downgrade could come without political resolution to the crisis that reportedly has left hundreds dead. Libya is the sole Fitch-rated sovereign that has no government debt, the agency said.
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