Rating agency Standard & Poors (S&P) has upgraded the UAE emirate of Ras al-Khaimah to A/A-1, with a stable outlook.
The agency views the emirates public finances as strong and supported by a prudent fiscal policy.
Ras al-Khaimah also benefits from indirect financial support from the rest of the UAE and would receive extra funding if required.
S&P estimates the emirates net general government asset position currently stands at approximately 4 per cent of gross domestic product (GDP) between 2013 and 2016. This includes the debt and liquid assets of all publicly owned entities.
Ras al-Khaimah could be further upgraded if the transparency and strength of its political institutions improves.