Emirate of Sharjah 'A/A-1' ratings affirmed on robust economic growth - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"On May 23, 2014, Standard & Poor's Ratings Services affirmed its 'A/A-1' long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah. The outlook is stable.
The affirmation primarily reflects the solid growth in Sharjah's GDP per capita. We also factor in the advantages of membership in the United Arab Emirates (UAE), which include low external risks for Sharjah. We believe that, under certain circumstances, Sharjah would receive extraordinary financial support from the UAE if needed. We do not currently anticipate that such a need will arise, however.
As for other Gulf Cooperation Council (GCC; Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE) sovereigns, the ratings on Sharjah are constrained by its underdeveloped political institutions and highly centralized policy-making, which we think can undermine policy predictability."
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