Ras Al Khaimah retains A/A-1 rating with stable outlook

Dubai: Ras Al Khaimah has retained its A/A-1 credit rating from S&P Global with a stable outlook, with the agency expecting the government to maintain prudent fiscal and economic policies while preserving a substantial net asset position.

S&P said the emirate’s fiscal position is expected to benefit from strong revenue performance, alongside a strong liquid asset position and continued revenue growth.

The agency also expects revenue growth to accelerate during 2028 and 2029, while the government’s net asset position provides a buffer against potential fiscal pressures.

Fiscal position remains in focus

The stable outlook reflects S&P’s expectation that Ras Al Khaimah Government will continue with its existing approach to fiscal management while maintaining its financial position.

Institutional development highlighted

S&P also pointed to progress in Ras Al Khaimah Government’s long-term efforts to strengthen economic institutions, including the development of the RAK Statistics Center.

The report said the financial and economic flexibility of the wider UAE provides an additional buffer against the impact of regional developments.

Ras Al Khaimah’s economic base is spread across a range of industries, helping the emirate attract businesses ranging from small and medium-sized enterprises to large international companies.

S&P said the combination of continued revenue growth, liquid assets and the government’s net asset position is expected to support the emirate’s fiscal position over the coming years.