Standard & Poor’s (S&P) has affirmed Qatar’s rating at AA-/A-1+ but has cautioned that this might change if the boycott of Qatar by other GCC and Arabs states starts having a measurable effect on the economy. “We expect the ongoing…
Tag: S&P
S&P downgrades Qatar outlook
Standard & Poor’s (S&P) has affirmed Qatar’s long-term rating at AA and short-term rating at A-1+ but revised its outlook to negative because of evidence of growing external indebtedness in a report issued on 3 March. “The negative outlook reflects…
Middle East to borrow $136bn in 2017
Middle East and Northern African (MENA) sovereign borrowing will total $136bn in 2017, S&P Global Ratings says in a new report. That will be 20 per cent down on the figure recorded in 2016. In 2017, $28bn of MENA sovereigns’ gross…
GCC finance needs to be $560bn
GCC governments will need financing worth $560bn in 2015-19 as a result of lower oil prices, S&P Global Ratings said in a report published today. “We estimate that, in nominal terms, GCC sovereigns’ combined fiscal deficit will reach $150bn…
Qatar affirmed at AA
Standard & Poor’s (S&P) said on 2 September that it is affirming its rating of Qatar at AA/A-1+. “The stable outlook reflects our view that Qatar’s economy will remain resilient, although we anticipate continued institutional weaknesses and an only moderate increase…
S&P affirms NBK at A+
For full coverage of Middle East business, see MEED Standard & Poor’s (S&P) has affirmed the long-term credit ratings of National Bank of Kuwait (NBK) at A+. All the bank’s ratings carry a stable outlook. “Our outlook on NBK is…
S&P cuts Saudi Arabia to A-
For full coverage of Middle East business, see MEED Standard & Poor’s Ratings Services (S&P) today announced that it had lowered its unsolicited long- and short-term foreign- and local-currency sovereign credit ratings on the Kingdom of Saudi Arabia to A-/A-2…
S&P forecasts lower profitability for Qatar banks
For full coverage of Middle East business, see MEED Standard & Poor’s (S&P) Ratings Services said in a report released today that it anticipates tightening liquidity, slackening credit growth and weakening profitability for Qatar’s banks in 2016. “Although the drop…
S&P says MENA sovereign creditworthiness has deteriorated
For full coverage of Middle East business, see MEED Standard & Poor’s Ratings Services (S&P) said today that overall sovereign creditworthiness in the Middle East and North African (MENA) region has deteriorated since S&P last published six months ago. S&P…
Fitch holds Ras al-Khaimah’s rating at A/AA
Fitch Ratings this morning affirmed Ras al-Khaimah’s long-term foreign and local currency Issuer Default Rating (IDR) at A with stable outlooks. The short-term foreign currency IDR has also been affirmed at F1. The country ceiling has been affirmed at AA+,…