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S&P affirms 'A/A-1' rating of Ras Al-Khaimah

S&P affirms 'A/A-1' rating of Ras Al-Khaimah
S&P’s report forecast that Ras Al-Khaimah’s economy will grow about 3% in the coming years

Abu Dhabi – Mubasher: Standard and Poor’s (S&P) has affirmed Ras Al-Khaimah's rating of sovereign issuance by domestic and foreign currencies at "A/A-1" for the long- and short-term, while maintaining its "Stable" future outlook.

S&P’s report forecast that Ras Al-Khaimah’s economy will grow about 3% in the coming years.

The manufacturing sector contributes about 25% of the economy’s gross domestic product (GDP) in Ras Al-Khaimah, the real estate and commercial services sectors make up about 9%, the wholesale and retail sector represents 12%, and the oil and gas sector 5%, S&P concluded.