Bahrain’s not so impressive credit ranking should be a cause of concern for authorities. Standard and Poor’s, a key credit rating agency, has assigned Bahrain the lowest ranking among fellow Gulf Cooperation Council (GCC) countries.
In fact, the credit rating of ‘BBB’ is the lowest investment rating. Still, of all GCC countries, only Bahrain is on S&P’s credit watch. What’s more is that the outlook for Bahrain remains negative.
The relatively poor rating by regional standards adds to an already alarming debt challenge. Outstanding public debt amounted to $7.7 billion in 2010, rising to $9.5 billion in 2011 and to $11.6 billion this year.
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