Leading News Source For Middle East
The Central Bank of Bahrain cancelled a $750million bond sale less than 48hours after it was launched and just few hours after Standard and Poor’s (S&P) rating agency downgraded its credit ratings by two notches from BBB- to BB as Read more
Most oil dependent countries have been downgraded by Standards and Poor’s rating agency and some Gulf countries were among those affected recently with their ratings reduced by 2notches. The agency cited that the falling oil prices contributed to the decision Read more
Oman’s sovereign debt has been downgraded by the Standard and Poor’s (S&P) rating agency from A- to a BBB+ citing a negative outlook because “the government’s fiscal and external positions could deteriorate beyond our current expectations over the next two Read more
Standard and Poor’s (S&P) rating agency decided to downgrade Saudi Arabia’s long term foreign and local currency sovereign credit ratings from AA- to A+ on Friday citing the effects of the low oil prices but authorities in Riyadh are not Read more
The ratings agency Standard & Poor’s predicted that the Gulf Cooperation Council banks will be shielded from the Euro zone turmoil and will continue recovering steadily from the 2008 credit crisis, despite the persistence of some pockets of risk. Since Read more