S&P Upholds Iraq's B- Rating but Flags Negative Outlook Amid Major Oil Disruption
S&P Global Ratings affirmed Iraq's long-term foreign- and local-currency sovereign rating at B- and its short-term rating at B, removing the long-term rating from CreditWatch negative. The agency left a negative outlook in place, citing a steep decline in oil production tied to the Middle East war and forecasting a deep GDP contraction in 2026 foll…