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Sunday, 29 January 2017

S&P downgrades Sharjah’s credit rating | The National

S&P downgrades Sharjah’s credit rating | The National:

"The ratings agency Standard & Poor’s (S&P) has downgraded the credit rating assigned to the emirate of 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, stating that Sharjah’s debt as a percentage of GDP has rapidly increased since 2014. "Sharjah’s fiscal underperformance below our expectations has resulted in a rapid increase in the emirate’s debt burden," S&P said in its note."



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