Fitch affirms Bahrain rating; outlook stable

Friday, 5 August 2011 00:01 - - {{hitsCtrl.values.hits}}

Manama (Reuters): Fitch Ratings has affirmed Bahrain’s long-term foreign currency issuer default rating (IDR) at ‘BBB’ and its local currency IDR at ‘BBB+’ and removed them from Rating Watch Negative (RWN).

The outlook is stable.

The agency has simultaneously affirmed Bahrain’s country ceiling at ‘BBB+’ and short-term foreign currency IDR at ‘F3’.

The resolution of the RWN and affirmation of the rating reflects Fitch’s view that the near term risks to the political and economic outlook have abated following the lifting of the state of emergency on June 1. The stable outlook reflects Fitch’s judgement that the fiscal and economic damage inflicted by the events of Q1 2011, and the worsening of Bahrain’s political climate, which is likely to prove long-lasting, are adequately reflected in its ‘BBB’ rating.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.