June 2, 2017 / 3:57 PM / 2 months ago

BRIEF-S&P says Kingdom of Bahrain outlook revised to negative on weakening external & fiscal positions‍​

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June 2 (Reuters) - S&P Global Ratings:

* S&P revises Bahrain sovereign credit outlook down to negative from stable; Current rating is BB-‍​

* S&P - Kingdom of Bahrain outlook revised to negative on weakening external and fiscal positions; 'BB-/B' rating affirmed‍​

* S&P - Negative outlook reflects view that Bahrain's net external asset position could weaken to be insufficient to mitigate continuing effects of oil price volatility

* S&P on Bahrain - The financial sector continues to exhibit signs of stability, including levels of nonresident deposits

* S&P says expect fiscal deficits will reduce only gradually over forecast period and their financing will further worsen Bahrain's net external asset position‍​

* S&P says also affirmed 'B' short-term foreign and local currency sovereign credit ratings on Bahrain and CBB

* S&P on Bahrain - Bahrain's fiscal imbalances are expected to moderate over the forecast, from 13.5% of GDP in 2016 to 7.5% by 2020 Source text (bit.ly/2smp0ES)

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