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Moody's lowers Bahrain ratings
- Bahrain: Wednesday, January 07 - 2009 at 10:16
Moody's Investors Service yesterday changed the outlook on Bahrain's sovereign ratings to negative from stable. These ratings are the country's A2 local and foreign currency government bond ratings, the A2 country ceiling for foreign currency bank deposits and the Aa3 country ceiling for foreign currency bonds. Bahrain's country ceiling for local currency bank deposits and country ceiling for local currency bonds remain at Aa2. The change in outlook was prompted by the steep decline in oil prices below Bahrain's fiscal break-even level.
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Jeff Florian, Senior ReporterWednesday, January 07 - 2009 at 10:16 UAE local time (GMT+4)
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