VOL. XLV

No 34

26-August-2002

BAHRAIN

Moody’s Upgrades Bahrain to Baa3, Citing Healthy Fiscal Performance

Moody’s Investors Service has upgraded Bahrain’s foreign currency ceiling for bonds to Baa3/P-3 from Ba1/NP and the ceiling for foreign currency (onshore) bank deposits to Baa3/P-3 from Ba2/NP. Consequently, foreign currency debt issued by Bahrain would be rated Baa3. The issuer rating for local currency government debt was raised to Baa1 from Baa3. The A3/P-2...