S&P Upgrades Qatar, UAE; Downgrades Greece

S&P Dow Jones Indices has upgraded Qatar and the United Arab Emirates to emerging market classification, while downgrading Greece from its developed market classification. South Korea and Taiwan will be designated as developed and emerging markets respectively, while Egypt and Morocco will retain their emerging market classification. Rationale for Qatar’s upgrade Providing rationale for upgrading Qatar to emerging market from frontier market classification, S&P notes the country has introduced DVP (Delivery Vs Payment) settlement system in 2011, besides enhancing it twice in 2012 to offer full protection of investors’ assets in the event of rejection by the seller. Qatar exchange…