Bahrain – Sovereign Ratings Affirmed with a Stable Outlook
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Summary
Ref : BH2 3 CRA00-0 2 1 3 October 2023
Bahrain – Sovereign Ratings Affirmed with a Stable Outlook
Rating Action
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Bahrain’s Long-Term Foreign Currency Rating (LT FCR) and Long-Term Local Currency Rating (LT LCR) at ‘B+’ . At the same time, CI Ratings has affirmed the sovereign’s Short -Term Foreign Currency Rating (ST FCR) and Short-Term Local Currency Rating (ST LCR) at ‘B’. The Outlook remains Stable.
Rating Rationale
The ratings reflec t improvement s in the public finances and external balances over the past two years , supported by high hydrocarbon prices and the implement ation of moderate fiscal consolidation measures, including efforts to rationalis e public expenditure . The ratings continue to be supported by ongoing financial assistance from Saudi Arabia, Kuwait and the UAE. GCC support serves both as a…