Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bahrain > News item |
Fitch ups Bahrain
Fitch Ratings said it upgraded the Kingdom of Bahrain's long-term foreign-currency issuer default rating to A from A- and long-term local-currency issuer default rating to A+ from A, along with its country ceiling to A+ from A. The short-term foreign-currency issuer default rating is affirmed at F1.
Improvements in domestic and external solvency ratios, continued strong non-oil growth and advances in economic and political reform explain the rating upgrade, Fitch said.
Bahrain's break-even oil price on the budget is higher than some other Gulf states, but the government has a good track record of adjusting to revenue shocks, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.