Fitch rates Ras Al Khaimah A

Fitch Ratings said it assigned the Emirate of Ras Al Khaimah long-term foreign- and local-currency issuer default ratings of A and a short-term foreign-currency issuer default rating of F1.

The outlook is stable.

The ratings are supported by the emirate's relatively diverse economy, rapid economic development and high per capita income and the government's prudent fiscal policy and strong balance sheet, Fitch said.

It also benefits from the institutions and resources of the United Arab Emirates federation, the agency said, although it retains considerable autonomy, especially in the areas of economic development and budgetary policy.

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