Summary: Bahrain (Kingdom of) Jan 11

Standard & Poors, January 2011

Abstract
The ratings on the Kingdom of Bahrain reflect the government's net financial asset position, renewed development of its hydrocarbon resources, and strong international alliances. These factors provide a counterbalance to high geopolitical risks (relative to the majority of other rated sovereigns) and the Bahraini economy's vulnerability to external shocks. The Central Bank of Bahrain's regulatory norms and supervision also mitigates some risks inherent in the Kingdom's large financial sector. Oil revenues have been budgeted on the basis of an $80/barrel (b) oil price for both 2011 and 2012, and we estimate the general government deficit at 1.7% and 1.2% of GDP, respectively, in those two years (including extra-budgetary expenditures). However, oil and gas revenues account for about 80% of total...

Companies mentioned in this report are: Bahrain (Kingdom of)
Action: Review

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Bahrain (Kingdom of)

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