Moody's decreases Bahrain, Oman ratings
Date
7/30/2017 4:04:59 AM
(MENAFN) Moody's Investors Service posted that it has lately reduced Bahrain's long-term issuer rating from Ba2 earlier to B1, saying that it has also downgrades Oman's long-term issuer and senior unsecured bond ratings to reach Baa2 compared with Baa1.
Moreover, the US firm added that this reduction was mainly derived by Moody's view that the credit profile of the Bahraini government is estimated to continue in the negative zone materially in the near future.
Meanwhile, the rating agency stated that it forecast Bahrain's government debt to surge and debt affordability to weaken considerably over for 2 to 3 years.
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