EMEA ports have rating headroom to weather Hormuz closure: Fitch

RIYADH: Ports across Europe, the Middle East and Africa are broadly well-positioned to absorb the economic shock of a prolonged Iran conflict and a potential closure of the Strait of Hormuz, with most maintaining sufficient rating headroom, Fitch Ratings said. Despite the war significantly disrupting global oil and gas flows through the narrow channel along the Iranian coast, many ports in the region have robust financial profiles and diversified cargo bases, providing a buffer against potential revenue losses, said the credit rating agency in its latest analysis.