Today's Edition
RAS AL KHAIMAH (ALETIHAD)
S&P Global has affirmed Ras Al Khaimah’s “A/A-1” credit ratings with a stable outlook, citing the emirate’s prudent fiscal and economic policies and substantial net asset position.
The ratings agency expects Ras Al Khaimah’s fiscal position to remain supported by strong revenue performance, according to a statement issued by the Ras Al Khaimah Government Media Office.
S&P said the stable outlook reflected its expectation that the government would remain committed to prudent fiscal and economic policies while preserving its substantial net asset position.
The report also highlighted progress in the government’s long-term efforts to strengthen economic institutions, including the RAK Statistics Center. It pointed to the financial and economic flexibility of the UAE as a buffer against the impact of regional developments.
A Ras Al Khaimah Government spokesperson said the emirate had repeatedly demonstrated its ability to navigate challenges while maintaining its growth and development prospects under the leadership of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.
“These accomplishments have inspired growing confidence in the emirate and its economy, which we now see reflected in S&P’s decision to once again affirm Ras Al Khaimah’s rating and stable outlook,” the spokesperson said, adding that S&P also anticipated positive fiscal performance over the coming three years.
S&P said the government’s net asset position provided a degree of protection against potential fiscal pressures. It expects the emirate’s fiscal position to be supported by strong liquid assets and continued revenue growth, with revenues projected to increase further during 2028-2029.
The statement said Ras Al Khaimah’s economy remained diversified, with activity spread across a range of sectors. No single sector accounts for more than 27% of the emirate’s GDP, it added.
Ras Al Khaimah has maintained “A”-range credit ratings since 2008, according to the statement.
