Moody’s Cuts Bahrain Credit Ratings, Citing Budget
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Bahrain’s sovereign credit ratings were lowered by Moody’s Investors Service, which said higher oil prices were needed by the government to balance its budget and cited the negative outlook on the banking sector.
The nation’s local and foreign-currency debt ratings were reduced one level to A3, the seventh-highest investment grade ranking, from A2, with a stable outlook, Moody’s said in an e-mailed statement in Dubai today.