S&P cuts Sharjah’s credit rating, maintains Rask Al Khaimah’s
Standards and Poor’s (S&P) downgraded the credit rating assigned to Sharjah due to concerns about rising debt. The agency lowered its rating on Sharjah to BBB+/A-2 from its previous level of A/A-1. It said that the combination of increased fiscal and capital spending over the past three years and the delay in implementing revenue-raising measures has weakened the emirates fiscal stance. Meanwhile, the agency affirmed its A/A-1 rating on Ras Al Khaimah, which it said benefits from a fairly diverse economy. (The National)
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.