Bahrain’s Sovereign Ratings Affirmed
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Summary
Ref : BH1 9 CRA00- 1 12 th April 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 Bahrain’s Long-Term Foreign Currency (LT FC) Rating of ‘BB’ and its Short-Term Foreign Currency (ST FC) Rating of ‘B’. CI Ratings has also affirmed Bahrain’s L ong-Term Local Currency (LT LC) Rating of ‘BB’ and its Short-Term Local Currency (ST LC) Rating of ‘B’. T he Outlook for all ratings remains Negative.
RATING RATIONALE
The Negative Outlook reflects the country’s weake ning net external asset position and limited capacity to withstand declines in hydrocarbon prices, as well as the relatively weak state of the public finances. The Negative Outlook also reflects the country’s social and political polarisation , which constrains policymaking flexibility and makes it harder to …