S&P affirms #Sharjah's rating; outlook stable | ZAWYA MENA Edition

S&P affirms Sharjah's rating; outlook stable | ZAWYA MENA Edition:

S&P Global Ratings affirmed its ‘BBB+/A-2’ long- and short-term foreign and local currency sovereign credit ratings for the Emirate of Sharjah, with a stable outlook.

Sharjah’s economy is expected to expand steadily by about 2 percent from 2019 to 2022, with moderate debt and interest burdens, S&P said in its research report.  

S&P could raise the emirate’s rating in the next two years if net general government debt or debt-service costs decreased materially, however views this as unlikely over the next two years.