Reuters: Moody's Cuts Outlooks for Four Gulf states, Lowers Bahrain to Jun
Bahrain Mirror (Reuters): Moody's Investors Service has cut its outlook for the debt ratings of Saudi Arabia and three other Gulf states while lowering Bahrain's rating to junk, citing concern over the impact of low oil prices on their finances.
S&P Cuts Saudi Arabia, Brazil, Oman, Kazakhstan, Bahrain
Bahrain Mirror (Reuters): Rating agency Standard & Poor's downgraded Saudi Arabia, Brazil, Kazakhstan, Bahrain and Oman's credit ratings on Wednesday, in its second mass cut of large oil producers in almost exactly a year.
IMF Estimates Bahrain's Fiscal Deficit to Reach 15%
Bahrain Mirror: The International Monetary Fund (IMF) estimated that the fiscal deficit of the Bahraini government would reach approximately 15% of the Gross Domestic Product (GDP) during 2016, with the drop of oil prices to lowest rate since 12 years.
Standard & Poor’s Outlook for Bahrain Is Negative
Standard & Poor’s Ratings Services stated that the outlook for each of Bahrain, Lebanon, Oman and Saudi Arabia is negative,
IMF: Bahrain Not Among Beneficiaries of Lifting Sanctions on Iran
The International Monetary Fund (IMF) stated that Bahrain would not be on the list of beneficiaries of lifting international sanctions on Iran.
Minister of Energy Implies Gasoline Prices May be Raised Again..New Prices Provide 56 Million BD Annually
Bahrain’s Minister of Energy Abdulhussain Mirza implied that there is a possibility of raising gasoline prices again, explaining that Bahrain’s Ministry of Energy was assigned to study a suitable mechanism, and recommended it to the Cabinet in order to set gasoline prices in the future.
Bahraini Parliamentary Financial Committee Decides to Impose Fees on Foreign Transfers amid Central Bank Rejection
Bahrain Mirror: The Committee of Financial and Economical Affairs of the Bahraini Parliament passed a bill to impose fees on financial transfers outside Bahrain. The committee said it would be a major spring for the state’s general budget, and a way to find new revenue sources to achieve progress and development in the Bahraini economy.
Bahrain’s Oil Prices Drop to 20s in Worst Case Scenario
Bahrain Mirror: Bahrain’s oil prices crossed an unexpected limit to reach the USD 20s category in the “worst case scenario”. It is expected to reach USD 25 per barrel if no big changes occur in global markets.
Incomes of Over 3,000 Officials Equal to Salaries of 100,000 Workers
Bahrain Mirror: The local Bahraini Al-Wasat newspaper said that the salaries of 3,154 officials in the private sector of the Kingdom of Bahrain are equivalent to what approximately 100,000 workers in the private sector earn.
S&P Revises Outlook on Bahrain-based Mumtalakat to Negative from Stable
Bahrain Mirror: Standard & Poor's Ratings Services on Monday (December 21, 2015) revised its outlook on Bahrain-based Mumtalakat to negative from stable and affirmed their 'BBB/A-2' long- and short-term foreign and local currency issuer credit ratings on Mumtalakat.
Fitch: Bahrain Positive Rating Requires Broadly Accepted Political Solution
Bahrain Mirror: Fitch Ratings has revised Bahrain Mumtalakat Holding Company's (Mumtalakat) Outlook to Negative from Stable and affirmed the Long-term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB-'.
Fitch Revises Batelco's Outlook to Negative
Bahrain Mirror: Fitch Ratings has changed the Outlook of Bahrain Telecommunications Company (Batelco) to Negative from Stable while affirming its Long-term Issuer Default Rating (IDR) at 'BBB-
Standard & Poor's Credit Rating & Outlook for Bahrain Remains “Negative”
Bahrain Mirror: On Dec. 11, 2015, Standard & Poor's Ratings Services affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Kingdom of Bahrain at 'BBB-/A-3'.
Reuters: Fitch Revises Mumtalakat's Outlook to Negative; Affirms at 'BBB-'
Bahrain Mirror (Reuters): Fitch Ratings has revised Bahrain Mumtalakat Holding Company's (Mumtalakat) Outlook to Negative from Stable and affirmed the Long-term Issuer Default Raing (IDR) and senior unsecured rating at 'BBB-'.
Reuters: Fitch Revises Batelco's Outlook to Negative, Affirms at 'BBB-'
Bahrain Mirror (Reuters): Fitch Ratings has changed Bahrain Telecommunications Company's (Batelco) Outlook to Negative from Stable while affirming its Long-term Issuer Default Rating (IDR) at 'BBB-'.
Reuters: Fitch Revises Outlook on 2 Bahraini Banks to Negative
Bahrain Mirror (Reuters): Fitch Ratings has revised the Outlook on National Bank of Bahrain (NBB) and BBK B.S.C. (BBK) to Negative from Stable, while affirming their Long-term Issuer Default Ratings (IDRs) at 'BBB-'
Financial Parliamentary Commission Agrees on Raising Public Debt Ceiling to 10 Billion BD
Bahrain Mirror: The Financial and Economic Parliamentary Commission passed a decree law to raise the public debt ceiling to 10 billion Bahraini dinars instead of 7.
Reuters: Fitch Revises Bahrain's Outlook to Negative; Affirms at 'BBB-'
Bahrain Mirror (Reuters): Fitch Ratings has revised Bahrain's Outlook to Negative from Stable and affirmed its Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB-'and 'BBB', respectively.
Gulf Braces For Austerity as Oil Income Slump Bites
Bahrain Mirror (AFP): Faced with heavy losses from low oil prices, Gulf states have embarked on belt-tightening measures to cut spending and boost non-crude revenues, but analysts warn much more needs to be done.
Bahrain Records Highest Debt Reaching 54% of GDP
Bahrain Mirror: A report issued by Kamco Investment Company indicates that “Bahrain has recorded the highest rank in terms of public debt, as it reached 54%.