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Bahrain (Kingdom of) Feb 12
Standard & Poors, Feb 2012
Abstract
Growing hydrocarbon sector. A relatively strong regulatory environment that mitigates risks related to the large financial sector. Stable external balance sheet. Unstable political situation compounded by geopolitical risks. The budget is highly dependent on oil revenues. Despite diversification, the economy's per capita growth rate is very low for Bahrain's income level. The ratings on Bahrain are supported by the country's net external and fiscal asset positions, which are underpinned by the renewed development of hydrocarbon resources. The ratings are constrained by our view of its severe domestic political tensions, high geopolitical risks, stagnating real GDP per capita, and fiscal dependency on sustained high oil prices. Nearly a year after major unrest in Bahrain, tensions have remained. Violent street protests with...
Companies mentioned in this report are: Bahrain (Kingdom of)
Action: Review
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: Full Analysis
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