Fitch rating for Bahrain bond
Manama, June 14, 2012
Fitch Ratings has assigned Bahrain's forthcoming US dollar bond a 'BBB'(exp) rating. The expected rating is in line with Bahrain's foreign currency issuer default rating of 'BBB'/Stable.
The rating was affirmed on August 3, 2011.
Forthcoming support from Saudi Arabia and other GCC countries is expected to offset further rises in social spending, helping to support Bahrain's credit rating.
As a net external creditor to the tune of 60 per cent of GDP in 2011, Bahrain's external sector continues to be one of its main credit strengths.
The current account continues to be in surplus, officially estimated at 12.5 per cent of GDP in 2011. – TradeArabia News Service