Credit rating agency Moody’s Investors Service, has maintained its stable outlook on the UAE’s banking system despite a slowdown in the economy due to a prolonged period of low oil prices. “We expect UAE banks’ credit profiles to broadly remain resilient…owing to their strong capital and liquidity buffers, coupled with resilient profitability,” said Moody’s analyst…

Just days after Standard & Poor’s (S&P) cut Saudi Arabia’s long-term foreign and local currency sovereign credit rating by one notch to ‘A+/A-1’ from ‘AA-/A-1+’, saying that a “pronounced swing” in the kingdom’s fiscal balance had prompted its downgrade, another sovereign ratings agency Moody’s has now warned of its weakening fiscal position, while keeping its…

Lebanon benefits from lower oil prices and higher revenues, but lack of consensus on economic reforms and a challenging political environment might worsen its public finances. Moody’s predicts that the country’s twin deficits and debt burden are likely to widen in 2015-2016, as policy action remains insufficient to curb the negative fiscal trend. General government…

Due to the credit risk challenges they face, GCC-based family businesses are assigned more conservative ratings than their financial risk metrics suggest. New York City-based credit ratings agency Moody’s published the above findings in its latest report. Eighty percent of non-oil GDP within the Middle East is derived from family owned businesses, making them a…

The emirate of Sharjah in the UAE has earned stable ratings from two international agencies with political stability, business-friendly environment and free trading zones contributing significantly to the positive outlook. The Sharjah Finance Department says Moody’s and Standard & Poor’s have assigned long-term rating of ‘A3’ and ‘A’, respectively, to the cultural capital of the…