CBB welcomes top Bahrain rating
MANAMA: The Central Bank of Bahrain (CBB) has welcomed a new global vote of confidence for Bahrain's economic performance and management of the domestic economy. Fitch rating agency affirmed Bahrain's long-term foreign and local currency Issuer Default Ratings (IDRs) at 'A' and 'A+' respectively. The agency said Bahrain's outlook on the long-term IDRs was stable.
"The stable outlook reflects the continued resilience of the economy and the banking sector to the stresses from the global downturn and regional property markets over the last two years," said the agency's report. "As the kingdom's central bank and regulator of Bahrain's international financial centre, the CBB welcomes global votes of confidence for Bahrain's continued economic success," said CBB Governor Rasheed Al Maraj. " -PB News