#Fitch Ratings

Fitch Warns Gulf Credit Resilience Is Being Tested by Hormuz Disruption

Fitch says Middle East ratings have largely held, but conflict and Hormuz disruption could still trigger broader downgrades. The agency raised its 2026 Brent assumption to 87 dollars a barrel and warned of a 100 dollar downside case. Banks, airlines, hotels, chemicals and Dubai real estate are key pressure points if the shock lasts longer.