Mubasher: Standard and Poor's (S&P) has revised Bahrain’s sovereign credit outlook down to negative from stable, and maintained its current rating at BB-‍​, according to a recent report.

The downgrade in outlook was attributed to the weakening external and fiscal positions, as the report said that the negative outlook reflects the view that Bahrain's net external asset position could weaken to be insufficient to mitigate continuing effects of oil price volatility

The financial sector continues to exhibit signs of stability, including levels of nonresident deposits, the ratings agency indicated.