Ras Al Khaimah retains A/A-1 rating with stable outlook
S&P expects prudent fiscal policy, strong revenues and a substantial net asset position
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.
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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.
Time and time again, the Emirate of Ras Al Khaimah has proven its ability to navigate challenges and maintain its prospects for growth and development, guided by the wise and forward-looking leadership of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah. These accomplishments have inspired growing confidence in the Emirate and its economy, which we now see reflected in S&P’s decision to once again affirm Ras Al Khaimah’s rating and stable outlook, while also anticipating positive fiscal performance over the coming three years.A spokesperson for Ras Al Khaimah Government
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.
