13.07.2016 - Brexit unlikely to hit GCC sovereign wealth funds – Moody’s
The UK’s vote to leave the European Union (EU) will have a “negligible” impact on GCC sovereigns’ credit ratings, Moody’s said in a statement on Tuesday. The rating agency said GCC sovereign wealth funds have limited trade exposure to the UK and their sheer size offers resilience against potential fluctuations in the value of their assets. Its latest report, ‘Sovereigns – Brexit and the Gulf Cooperation’, said that sovereign wealth fund portfolios are typically large and well diversified, allowing them to absorb the impact of asset price and exchange rate movements associated with Brexit...............................................Full Article: Source
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