International credit rating agency Fitch affirms Ras Al Khaimah’s ‘A’ rating

International credit rating agency Fitch affirms Ras Al Khaimah’s ‘A’ rating

- Positive Outlook built on strong foundations of solid fiscal metrics; the benefits of membership of the UAE; high GDP per capita; and low public-sector debt

- Ras Al Khaimah’s ‘prudent fiscal strategy’ and record of budget surpluses, considered to be structural, providing the Emirate with ‘exceptional spending flexibility’ with which to make further strategic investments

Ras Al Khaimah, United Arab Emirates: For the second year in succession, Ras Al Khaimah’s credit rating has been affirmed at ‘A’ with a Positive Outlook, according to international credit rating agency Fitch.

U.S.-based Fitch Ratings, one of the ‘Big Three’ credit ratings agencies, stated that the Emirate’s positive outlook reflected strong foundations of “solid fiscal metrics; the benefits of its membership of the United Arab Emirates (UAE); high GDP per capita and low public-sector debt”.

The report by Fitch directly referenced Ras Al Khaimah’s “prudent fiscal strategy” and record of budget surpluses, which are considered to be structural and provide the Emirate with “exceptional spending flexibility” with which to make strategic investments. It also points to a number of additional strengths that have influenced the Positive Outlook, namely the fact that Ras Al Khaimah has a “diversified economy for its size” and low public debt.

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