Bahrain can meet economic challenges: Fitch
Manama, June 2, 2009
Bahrain can continue to meet the economic challenges it faces despite having to deal with the impact of a lower oil price and global recession, says a new report published by Fitch Ratings.
It added that Bahrain ('A'/stable outlook) can also meet the finance wider fiscal deficits in 2009-2010 without causing undue strain on its debt ratios.
The need for capital infusions from the sovereign to domestic retail banks is also thought unlikely.
The report follows the affirmation of Bahrain's sovereign ratings on May 28 - for further details see Fitch's comment, 'Fitch Affirms Bahrain at 'A'; Outlook Stable', which is available on the agency's public website, fitchratings.com.
Today's report, entitled, 'Bahrain's Public Finances and Banking Sector,' is also available at fitchratings.com. The report draws on another recent report from Fitch's Financial Institutions Group entitled, 'Bahraini Banks: Annual Review and Outlook' dated May 11. - Reuters