Bahrain credit outlook upgraded to positive

MANAMA - Bahrain credit outlook has been upgraded from ”stable” to “positive” by the international rating agency, FitchRatings, Bahrain Monetary Agency (BMA) said on Thursday.



By (DPA)

Published: Thu 17 Aug 2006, 9:33 PM

Last updated: Sat 4 Apr 2015, 2:18 PM

FitchRatings also affirmed Bahrain’s sovereign long-term foreign currency debt rating of A- (A minus) and the long term local currency debt rating of A.

BMA said that the improved outlook for Bahrain reflects the continued strong economic growth based on the prudent yet progressive handling of economic, fiscal and political reforms.

In April, Standard & Poors (S&P) upgraded Bahrain’s foreign currency debt rating to A, from A-, with the outlook as stable.

The ratings demonstrate international confidence in the economic and financial strength of Bahrain, said BMA director of financial stability, Sheikh Salman bin Isa Al Khalifa.


More news from Business
Luxury vrooms again

Business

Luxury vrooms again

This year the #NoFilterDXB witnessed a dazzling array of replica vehicles from some of Hollywood’s most classic movies and TV shows.

Business2 days ago