GCC governments’ credit strength likely to weaken in 2018 | GulfNews.com

GCC governments’ credit strength likely to weaken in 2018 | GulfNews.com:

"The credit strength of a number of Gulf Cooperation Council (GCC) countries is expected to weaken further this year driven by weak growth outlook and geopolitical tensions, according to leading credit rating agencies, Standard & Poor’s and Moody’s Investors Service.
The 2018 outlook for sovereign ratings in the GCC is negative, reflecting GCC members’ muted economic growth, structural challenges and geopolitical tensions in the region, according to Moody’s.

“Although oil prices have risen significantly from their lows in early 2016, most sovereigns in the region will continue to run sizeable fiscal deficits and record an increase in their debt burdens over the next 12 to 18 months. In addition, long-standing geopolitical event risks have come to the fore again and will play an important role in defining sovereign credit quality in 2018,” said Steffen Dyck, Senior Credit Officer at Moody’s."



'via Blog this'