Bahrain’s Sovereign Ratings Affirmed
Content is restricted
Summary
Ref : BH1 9 CRA00- 2 4 th October 2019
Bahrain’s Sovereign Ratings Affirmed
RATING ACTION
Capital Intelligence Ratings (CI Ratings or CI) , the international credit rating agency, today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FC R ) and Short-Term Foreign Currency Rating (ST FC R) of Bahrain at ‘BB’ and ‘B’ , respectively . CI Ratings has also affirmed the sovereign’s L ong-Term Local Currency Rating (LT LC R) and Short-Term Local Currency Rating (ST LC R ) of ‘BB’ and ‘B’ , respectively . T he Outlook for all ratings remains Negative.
RATING RATIONALE
The ratings and outlook reflect the country’s weakening net external asset position and limited capacity to withstand further declines in hydrocarbon prices, as well as the relatively weak state of the public finances . In addition, po licymaking flexibility is constrained by the…