Fitch Ratings told Reuters on Tuesday that upgrades of any major economy are unlikely in 2021 despite recent developments related to COVID-19 vaccination, and that countries in Latin America, the Middle East, and Africa show the highest level of vulnerability to further negative action in the coming year.
“We have only two sovereign ratings (Cote d’Ivoire and New Zealand) on Positive Outlook so upgrades of any major economies currently look unlikely in 2021,” Tony Stringer, chief operating officer of the rating agency’s Global Sovereigns and Supranationals, said in an emailed response to questions posed by Reuters.
