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FINANCIAL NEWS
UAE- S&P’s rating for RAK’s sovereign credit at ‘A/A-1’
07 Dec 2011
(MENAFN) Standard & Poor’s issued a media statement rating the foreign and local currency sovereign credit ratings of the emirate of Ras Al Khaimah (RAK) at ‘A/A-1’, reported Emirates 24/7.
The statement added that S&P estimates RAK’s total debt at 24.1 percent of GDP in the current year. S&P added that the UAE has the financial capacity to cover for such liabilities.
As for the emirate’s GDP per capita, S&P estimated it at USD21,897.
S&P predicted RAK to declare a consolidated government surplus of 6 per cent of GDP in 2011.
More News
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
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