Middle East Economic Survey

VOL. XLVII

No 51/52

20/27-December-2004

RATINGS

Fitch Raises Irans Credit Rating

Fitch said on 14 December that it has raised Irans credit rating to BB- from B+ citing high oil prices which have boosted the economy and the countrys stepping up of its attempts to privatize some of its state-owned industries. Irans Expediency Council agreed in October to push ahead major privatizations, side-stepping Article 44 of the constitution which had decreed that infrastructure...