Inside RAK: S&P Affirms Ras Al Khaimah’s A/A-1 Credit…

• 2026 — Key year
• 1 — Volume / scale

S&P Global Ratings has affirmed the credit rating of Ras Al Khaimah at 'A' in the long-term category and 'A-1' in the short-term category. The affirmation underscores the emirate's robust fiscal management and its ability to maintain a stable financial trajectory amidst a volatile regional environment.

While the rating remains strong, S&P has slightly trimmed its growth forecasts for 2026. This adjustment is attributed to potential spillovers from Middle East geopolitical tensions, which could impact trade volumes and investor sentiment across the GCC.

Despite the revised forecasts, the agency highlighted RAK's diversified economy and its strategic investments in tourism and industrial zones as key strengths. The continued expansion of the RAKEZ ecosystem and the anticipation of major hospitality projects provide a solid foundation for long-term GDP growth.

The affirmation is a positive signal for international bondholders and institutional investors, confirming that RAK possesses the liquidity and governance frameworks necessary to manage its debt obligations effectively.

For the local economy, this rating stability ensures that the government can continue to secure funding for critical infrastructure projects at competitive rates, supporting the overarching goals of the RAK Vision 2030.