Fitch cuts Bangladesh's outlook to 'negative' on Middle East conflict risks
A vendor sorts vegetables next to a railway track as a train passes by, in Dhaka September 10, 2012. REUTERS/Andrew Biraj (BANGLADESH - Tags: TRANSPORT SOCIETY)
May 13 : Credit ratings agency Fitch revised Bangladesh's outlook to "negative" from "stable" on Wednesday, citing rising macroeconomic and external financing vulnerabilities stemming from the conflict in the Middle East.
The ratings agency said Bangladesh faced significant downside risks through higher energy import costs and potential disruptions to remittances, with nearly half of remittance inflows coming from the Middle East.
In March, Bangladesh had sought about $2 billion in loans from multilateral lenders to finance imports of liquefied natural gas and other fuels.
The agency affirmed Bangladesh's long-term foreign-currency issuer default rating at "B+".
