Middle East Economic Survey

VOL. LIII

No 52

27-Dec-2010

UAE

S&P Affirms Ras Al-Khaimah Ratings, Outlook Stable

Standard & Poors Ratings Services (S&P) affirmed on 22 December its long and short term A/A-1 foreign and local currency sovereign credit ratings on the Emirate of Ras al-Khaimah (RAK), with stable outlook. The transfer and convertibility assessment on RAK is AA+. The affirmation reflects RAKs membership of the UAE, which in our view provides an anchor and potential...