Gulf Cooperation Council gets rating system from S&P

02/15/2010 | Gulf News (United Arab Emirates)

A credit rating scale for corporations, banks, insurers and governments in the Gulf Cooperation Council's member states was launched by Standard & Poor's. "By creating a regional rating scale, we are allocating more rating symbols that would capture the entire risk spectrum, which would give a clearer picture for ... lenders and investors," said Rob Richards, a criteria officer at S&P. While the company's global ratings compare risk among issuers worldwide, the GCC scale "will focus on comparing credit risk relative to [Persian] Gulf issuers and issuances only," Richards said.

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