GCC has work cut out on rating maintenance | GulfNews.com

GCC has work cut out on rating maintenance | GulfNews.com:



"The Gulf Cooperation Council (GCC) countries enjoy satisfying sovereign credit ratings with minor exceptions. In a way, the ratings are supported by the absence of a serious debt problem except in Bahrain’s case.



Notably enough, Abu Dhabi, Qatar and Kuwait share similar credit ratings as assigned by Moody’s and Standard & Poor’s, the two leading names in the field. Moody’s assigns a rating of Aa2 for Abu Dhabi, Qatar and Kuwait, a highly sought sovereign rating and indicating optimum ability at paying off short-term debt. The prime-1 rating comes after those of Aaa and Aa1.



S & P’s grants a similar rating, namely AA to Abu Dhabi, Qatar and Kuwait, suggesting capability in meeting financial obligations. This is the second best rating after AAA within the S & P’s scale. Not surprisingly, only a handful of countries such as Norway have the best rating."



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