Abu Dhabi – Mubasher: Fitch Ratings affirmed its Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) for Ras Al Khaimah at “A,” with a stable outlook.
The rating firm rated the Emirate’s senior unsecured foreign- currency bonds at “A,” while the Short-Term Foreign- and Local-Currency IDRs are affirmed at “F1”.
“The ratings balance the benefits of Ras al Khaimah's membership of the UAE, low debt metrics, strong growth and solid fiscal performance against persistent weaknesses in data quality and in the macro policy framework,” Fitch said.
In August, S&P Global Ratings affirmed its long- and short-term foreign and local currency sovereign credit ratings on Ras Al Khaimah at “A/A-1,” with a stable outlook.
