Maldives’ rating downgraded as recession looms

Deckchairs beach Fotolia 230x150
By Morgan Davis
31 Mar 2020

Fitch Ratings has downgraded the Maldives to B from B+ and revised its outlook to negative from stable, as the Covid-19 pandemic hits the island nation’s tourism industry.

The Maldives’ economy is expected to be pummelled by the Covid-19 outbreak, as the nation relies on tourism to stay afloat. The Maldives has recorded fewer than 20 cases of the virus, and nearly all were attributed to foreigners.

Tourism directly accounts for a fourth of the ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.