Fitch Ratings has affirmed Ras al-Khaimah’s long-term foreign and local currency issuer default ratings (IDRs) at A with a stable outlook. The issue ratings on RAK Capital’s senior unsecured foreign- currency bonds are also affirmed at A. The UAE country Ceiling…
Tag: Fitch Ratings
Fitch says GCC bank outlook remains negative
Low oil prices continue to pressure bank liquidity and are also taking their toll on asset quality and earnings for banks in Gulf Cooperation Council (GCC) countries, Fitch Ratings says in a report released today. Fitch’s sector outlook for GCC…
Kuwait rating affirmed at AA
Fitch Ratings has affirmed Kuwait’s long-term foreign and local currency issuer default ratings (IDRs) at AA with a stable outlook. The country ceiling has been affirmed at AA+ and the short-term foreign and local currency IDRs have been affirmed at…
Saudi bond issue launched
The Saudi Arabian government has circulated the prospectus for its planned bond issue and is due to start a roadshow promoting the offering on 12 October that will encompass London, New York, Boston and Los Angeles, It is reported to…
Fitch downgrades Batelco and Mumtalakat
For full coverage of Middle East business, see MEED Fitch Ratings has downgraded the long-term issuer default ratings (IDRs) of Bahrain Telecommunications Company (Batelco) and Bahrain Mumtalakat Holding Company (Mumtalakat) to BB+ from BBB-.The outlooks are both stable. “The rating…
Fitch cuts Bahrain’s credit rating
For full coverage of Middle East business, see MEED Fitch Ratings has downgraded Bahrain’s long-term foreign currency issuer default rating (IDR) to BB+ from BBB- and long-term local currency IDR to BB+ from BBB. The outlooks are stable. The issue…
GIC affirmed at A-
For full coverage of Middle East business, see MEED Fitch Ratings has affirmed Gulf Investment Corporation’s (GIC’s) long-term issuer default rating (IDR) at A- with a stable outlook and short-term IDR at F1, Fitch Ratings said in a report released…
Egypt budget deficit to remain high
For full coverage of Middle East business, see MEED Fitch Ratings said today that it forecasts Egypt’s budget deficit will remain above 10 per cent of GDP in 2015/16 and 2016/17 due to the failure to implement fiscal reforms in…
Ooredoo A+ rating affirmed
For full coverage of Middle East business, see MEED Fitch Ratings today affirmed Qatar’s leading telecom company Ooredoo’s long-term issuer default rating (IDR) at A+ with a stable outlook. The rating affirmation reflects the continued strength of Ooredoo’s links with…
Fitch revises Iraq’s outlook to negative
For full coverage of Middle East affairs, see MEED Fitch Ratings has revised the outlook on Iraq’s long-term foreign currency issuer default rating (IDR) to negative from stable and affirmed the IDR at B-. The country ceiling has been affirmed…