Moody’s reviews eight GCC GRIs

Moody's Investors Service said it placed the ratings of eight government-related issuers based in Gulf Cooperation Council (GCC) countries on review for downgrade.

These issuers are: Emirates Telecommunications Group Co. PJSC, Industries Qatar QSC, International Petroleum Investment Co., Mubadala Development Co., Qatar Petroleum, Saudi Basic Industries Corp., Saudi Electricity Co. and Saudi Telecom Co.

Moody's also placed the ratings of Qatari Diar Finance QSC and the ratings on the notes issued by 1MDB Energy Ltd. on review for downgrade.

These actions follow the placement on review for downgrade of the sovereign ratings of Saudi Arabia, Qatar, the United Arab Emirates and the emirate of Abu Dhabi on March 4.

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