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Banking Industry Country Risk Assessments On Saudi Arabia, Qatar, Oman, And Bahrain Revised Aug 08
Standard & Poors, Aug 2008
Abstract
Standard & Poor's Ratings Services raised its Banking Industry Country Risk Assessment (BICRA) on four countries of the Gulf Cooperation Council (GCC): Kingdom of Saudi Arabia (AA-/Stable/A-1+) to Group 3 from Group 4; State of Qatar (AA-/Stable/A-1+) to Group 4 from Group 5; Sultanate of Oman (A/Stable/A-1) to Group 5 from Group 6; and Kingdom of Bahrain (A/Stable/A-1) to Group 5 from Group 6. The BICRAs on the United Arab Emirates (UAE; not rated) and State of Kuwait (AA-/Stable/A-1+) are in Group 4. Standard & Poor's also affirmed its estimate of the incidence of gross problematic assets (GPAs) in the financial systems of the six GCC countries in an economic recession at 15%-30%. These actions in themselves will not automatically...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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