Bahrain Escapes Downgrade at Fitch After Political Risk Abates
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Bahrain’s creditworthiness escaped a possible downgrade at Fitch Ratings because of reduced near-term political and economic risks in the island-kingdom that contended with anti-government protests earlier this year.
Fitch said it removed the Persian Gulf kingdom from its Credit Watch Negative list for borrowers facing a possible downgrade. Bahrain’s long-term foreign-currency issuer default rating was affirmed at BBB, the second-lowest investment grade, and its local-currency issuer default rating at BBB+.