S&P Assigns Sharjah Sovereign Credit Rating Of ‘A’

Standard & Poor’s Ratings Services assigned its ‘A/A-1’ long and short-term foreign and local currency sovereign credit ratings to the emirate of Sharjah with a stable outlook on Tuesday.

The rating is supported by the government’s limited fiscal risks and low government debt, and the liklihood of support from the UAE if the need arises.

“The stable outlook balances our view of Sharjah’s fiscal flexibility, and the advantages of UAE membership, against its still nascent political institutions and the limited availability of timely economic data,” S&P said in a statement.