Fitch's 2019 Global Sovereigns outlook......>

RATINGS: Fitch's 2019 Global Sovereigns outlook out...a few interesting tidbits:

- For the first time since mid-2000s, Outlooks for both developed- and EM

sovereigns are roughly balanced between Positive and Negative, providing no

clear directional indication of rating changes in the coming 12-18 months.

- Sovereigns with a Stable Outlook entering 2019 account for 75% of Fitch's

portfolio, in line with the 10-year average. 2018 had the fewest rating actions

since 2007, at less than 20, but Fitch expects a return to a more

normal range of 20-30 actions in 2019, assuming there are no unforeseen shocks.

- With Austria (AA+) and Finland (AA+) on Positive Outlook, Fitch notes the

'AAA' category is likely to expand from its all-time low of 11. These would be

the first two sovereigns to regain 'AAA' after having been downgraded.