(MENAFN- Khaleej Times) Moody's Investors Service on Wednesday cut Bahrain's government rating by one notch to Baa2 and warned further cuts could be coming, citing the government's weak fiscal position and an outlook for lower-trend economic growth over the medium term. Moody's also added that the outlook is negative.
"The negative rating outlook reflects the high degree of event risk, particularly regarding Bahrain's susceptibility to domestic and regional geopolitical instability, as well as potential negative impact from an oil price shock," Moody's said in a statement. Standard & Poor's and Fitch both rate the country BBB with a stable outlook.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.