"Moody's Investors Service has placed its rating on Bahrain on watch for a possible downgrade, citing the implications of the country's high and rising break-even oil prices and the outlook for lower economic growth.
Moody's currently rates Bahrain at baa1, three levels above junk territory.
The ratings firm noted Bahrain's rising government debt burden introduces uncertainty into its longer-term debt sustainability. Bahrain's fiscal deficit for 2012 was 2.6% of gross domestic product and smaller than the deficits recorded in 2009 and 2010."
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