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Sunday, 30 July 2017

MIDEAST DEBT-Gulf ratings diverge as Bahrain, Oman sink, others stabilise

MIDEAST DEBT-Gulf ratings diverge as Bahrain, Oman sink, others stabilise:

"Fresh cuts in the debt ratings of Bahrain and Oman underline a growing gap between the weakest Gulf Arab economies and the others - a gap which may not yet be fully reflected in market prices. Moody's downgraded Bahrain by two notches on Friday to B1, four notches below investment grade. All three major agencies rate Bahrain junk; Moody's is one notch below Standard & Poor's and three below Fitch. Moody's also cut Oman one notch to Baa2, two notches above S&P, which has the country at junk, and the same level as Fitch. All three agencies kept negative outlooks for Bahrain and Oman."



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