Fitch cuts outlook on Kuwait’s debt rating to ‘negative’ Reuters/Kuwairt City Filed on February 3, 2021 A Kuwaiti vendor sells desert truffles at a market in the capital Kuwait City on Wednesday. The desert truffle, an underground fungus is unique to arid environments. Unlike its European counterpart, the abundance of the desert truffle makes it the main component of a dish rather than a seasoning. — AFP The agency, which affirmed Kuwait’s long-term rating at "AA", said liquid assets in the General Reserve Fund (GRF) faced being depleted in the absence of parliamentary authorisation for the government to borrow Rating agency Fitch on Wednesday downgraded its outlook on Kuwait’s sovereign debt rating to “negative” from “stable”, warning of near-term liquidity risks associated with the state treasury fund.