This report does not constitute a rating action. S&P Global Ratings is publishing an update of rating actions we have taken globally due to the credit implications of the Middle East war. The report is released on the first Tuesday of each month. These are rating actions on publicly rated issuers where the Middle East war and its consequences--including but not limited to higher energy prices--were identified as a primary driver. The tracker covers rating actions in the nonfinancial, financial, corporate, and sovereign sectors. Please note, country classifications are based on the issuer’s country of incorporation. An issuer’s country of business operations may differ from its country of incorporation. Rating actions include upgrades, downgrades, outlook revisions, and CreditWatch placements between
