September 7, 2016
The Fitch ratings agency has released a report for the government of Saudi Arabia that, to the layperson, might look a bit ominous. Fitch has affirmed the country's rating at AA- with a negative outlook in the report, in which Fitch analysts paint a complicated picture of the government's balance sheet. Also in the Fitch report is warnings about a rapidly changing labor market.
Read more →
May 24, 2016
Qatar’s future USD-denominated senior unsecured bonds have an expected rating of AA (EXP) from Fitch Ratings. The final rating assignment is dependent upon the receiving of all completed documents representing previously received information. All proceeds from the bonds will be used for Qatar’s financial and general funding purposes.
Read more →
May 9, 2016
Fitch Ratings downgraded the long-term foreign and local currency Issuer Default Ratings of Saudi Arabia from AA to AA- as analysts cited a downward revision on oil price estimates and a widening of the central government deficit from 2.3 percent of GDP in 2014 to 14.8 percent in 2015. Fitch said the government will meet some of its financial needs by getting rid of foreign assets and borrowing.
Read more →November 27, 2015
Fitch Ratings said that Kuwait has issued new rules for the Gulf nation’s Shariah-compliant sukuk market that could inject life into its Islamic finance sector. Financial experts at the American credit rating agency suggest the new framework put forward by the Capital Market Authority of Kuwait (CMA) could revitalize the country’s private-sector Islamic bond market.
Read more →
Sign-up for the Weekly Newsletter from Gulf News Journal.