Standard & Poor's Says Bahrain Outlook Revised to Negative
2017-06-04 - 12:34 am
Bahrain Mirror - Reuters: Standard and Poor's (S&P) said Kingdom of Bahrain outlook revised to negative on weakening external & fiscal positions. It also affirmed its rating at "BB-/B".
"Negative outlook reflects view that Bahrain's net external asset position could weaken to be insufficient to mitigate continuing effects of oil price volatility," S&P added.
It further noted that the "financial sector continues to exhibit signs of stability, including levels of nonresident deposits".
The financial agency indicated that it expects "fiscal deficits will reduce only gradually over forecast period and their financing will further worsen Bahrain's net external asset position".
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