S&P revises Bahrain’s outlook to positive
Tuesday, 12 03 2019, Category: Rating, Country: Bahrain
Global ratings agency Standard and Poors (S&P) revised its outlook on Bahrain to positive from stable following the implementation of the government’s budget-deficit-reducing measures and other reforms. It further affirmed the ‘B+/B’ long- and short-term foreign and local currency sovereign credit ratings.
The agency expects the country’s external vulnerabilities to decline because of support from other Gulf Cooperation Council (GCC) sovereigns.
The positive outlook signifies that the credit rating agency could raise its ratings of Bahrain in the next 12 months if its fiscal performance proves stronger than expectations.
Source: Business Live ME