Fitch affirms Ras al Khaimah

Fitch Ratings said it affirmed the Emirate of Ras al Khaimah's long-term foreign- and local-currency issuer default ratings at A, along with its short-term foreign-currency issuer default rating at F1.

The country ceiling is AA+.

The outlook is stable.

Ras al Khaimah continues to make steady progress reducing an already modest debt burden, executing a focused development strategy and improving data quality to track progress, Fitch said.

Debt is edging down closer to 20% of GDP and the economy has recovered well from the global and regional crisis, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.