The International ratings agency Moody's said Middle East sovereign ratings should improve this year given an improving global economy and growing investor confidence. However, it said Iran 's nuclear programme could pose a risk to the region. The credit ratings agency recently upgraded Saudi Arabia and Oman 's government bond ratings, citing their sound fiscal positions. None of the region's sovereign ratings were downgraded last year as most Middle East economies weathered the global economic downturn better than other economies. The agency said key developments to watch included oil prices and production levels, as well as the continuation of fiscal stimulus and bank lending conditions in the region.
|
Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more
National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more
The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more