Middle East Economic Survey

VOL. LIII

No 35

30-Aug-2010

BAHRAIN

Moodys Downgrades Bahrain Sovereign Ratings

Moodys Investor Service has downgraded Bahrains local and foreign currency government bond ratings from A2 to A3, it announced on 23 August, with the outlook changed to stable. The ratings agency cited a gradual but significant rise in the kingdoms budgeted break-even oil price over recent years. Moodys estimated that the oil price necessary to balance the kingdoms budget has risen from...