Fitch views Ras Al Khaimah positively

Fitch Ratings said it revised the outlook on Ras Al Khaimah's (RAK) to positive from stable and affirmed the issuer rating at A.

“The positive outlook reflects our expectation of a continued budget surplus, combined with RAK's record of prudent fiscal management and public finances' resilience during the pandemic. Surpluses will be underpinned by significant flexibility in spending due to the large share of profit-oriented SOEs within the general government's (GG) consolidation perimeters and the significant share of mandatory spending undertaken by the federal government,” Fitch said in a press release.

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