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S&P gives Bahrain stable outlook in transfer, convertibility
(MENAFN) Bahrain has received a steady view from S&P Global Ratings in the 'B+/B' long- and short-term foreign and local currency sovereign credit ratings.
Ratings agency S&P said that Bahrain maintained its 'BB-' outlook in its review of transfer and convertibility.
S&P noted that it is prepared to increase ratings if Bahrain recorded a development in its net external asset performance.
The ratings agency said "we would lower the ratings if fiscal and external pressures intensify, the coverage of external liabilities by liquid external assets falls more sharply than expected, or we reassess our assumption that support for Bahrain's exchange rate arrangement from neighboring sovereigns would be forthcoming."
Ratings agency S&P said that Bahrain maintained its 'BB-' outlook in its review of transfer and convertibility.
S&P noted that it is prepared to increase ratings if Bahrain recorded a development in its net external asset performance.
The ratings agency said "we would lower the ratings if fiscal and external pressures intensify, the coverage of external liabilities by liquid external assets falls more sharply than expected, or we reassess our assumption that support for Bahrain's exchange rate arrangement from neighboring sovereigns would be forthcoming."
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