Fitch Expects Cutting Ties with Qatar Would Affect Bahrain’s Growth
2017-06-14 - 7:21 am
Bahrain Mirror: Fitch Ratings expected a limited direct impact on Bahrain's economy as a result of cutting ties with Qatar.
The agency affirmed the sovereign's Long Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of Bahrain at 'BB+'.
Fitch has downgraded Bahrain's outlook to ‘Negative' from ‘Stable'. However, Fitch's proprietary SRM assigns Bahrain a score equivalent to a rating of 'BB+' on the Long-Term FC IDR scale.
The agency said in a statement that that the slow progress on terms of the new budget and medium-term financial strategy highlights the difficulty of building consensus about the next phase of the financial control procedures. Fitch expects that cutting ties with Qatar would affect Bahrain's growth.
- 2023-11-25S&P Revises Bahrain's Outlook to "Stable" on Fiscal Deficit Worries
- 2023-07-13Haj Sumoud Transferred from Dry Dock Prison to Al-Salmaniya Emergency Department after His Health Deteriorated
- 2023-06-22Bahraini Mumtalakat Buys Saudi McLaren's Stake
- 2023-05-18After Allocating $5 Billion Investment Fund, Is Bahrain Waiting New Saudi Support?
- 2022-09-21Abu Sa'afa Field Revenues Reach One Billion, 33 Million BD, Its Revenues Expected to Increase by 40% this Year