Fitch said the Middle East remains a risk to global corporates despite a June 17 temporary memorandum between the US and Iran, noting retaliatory strikes continue, the pact is fragile and Israel is not a party. In an updated downside scenario Fitch said an extreme outcome — equities down 10%, corporate bond spreads widening 100–200bps, monetary policy tightening and a marked global slowdown — may not fully materialize but serves as a reference for conflict escalation; under that scenario US and

Fitch said the Middle East remains a risk to global corporates despite a June 17 temporary memorandum between the US and Iran, noting retaliatory strikes continue, the pact is fragile and Israel is not a party. In an updated downside scenario Fitch said an extreme outcome — equities down 10%, corporate bond spreads widening 100–200bps, monetary policy tightening and a marked global slowdown — may not fully materialize but serves as a reference for conflict escalation; under that scenario US and euro-area growth would drop significantly. Fitch reviewed 72 industry sub‑sectors across six regions, leaving most risk assessments unchanged while revising some; it warned tail risks persist and renewed escalation would pressure corporate credit conditions and financial markets.