The positive rating reflects the Emirate’s strong long-term growth prospects and ongoing economic diversification

Ras Al Khaimah’s strategic approach to sustainable, cross-sector growth and strong economic and investment environment has been validated by international credit rating agency Fitch, which reaffirmed the rating at ‘A+’ with a stable outlook.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250515907689/en/

Ras Al Khaimah’s strong economic and investment environment validated by Fitch affirmation of ‘A+’ credit rating, with Stable Outlook (Photo: AETOSWire)

Ras Al Khaimah Government welcomed the announcement as an endorsement of the Emirate’s resilient and expanding economy, sound fiscal management and the clear vision and unwavering commitment of its leadership to sustainable, long-term development and growth.

The Emirate’s landmark tourism projects, including a major integrated resort, luxury hotels and world-class leisure facilities, combined with a surge in real estate revenue, are creating opportunities for investors, driving further investment and strengthening the Emirate’s economic resilience, according to Fitch.

A Ras Al Khaimah Government spokesperson said: “Ras Al Khaimah’s consistent A+ credit rating is owing to its disciplined economic strategy, ambitious investment agenda and long-term commitment to building a sustainable and diversified economy. The Emirate has experienced significant growth over several years to become an attractive global investment and tourism hub, as well as a leading destination to live, work and explore.”

In March, Ras Al Khaimah successfully issued a 10-year USD1 billion sukuk, while keeping total public-sector debt at just 11% of GDP – one of the lowest levels among Fitch-rated sovereigns. This is expected to fall to 9% by 2026.

Fitch estimated that Ras Al Khaimah achieved real GDP growth of 6.7% in 2024, an increase from 3.6% the previous year. RAK Government anticipates this strong momentum to continue, with average growth projected at 6.1% into 2026. This growth is driven by key strategic initiatives, notably the development of the landmark $5.2 billion Wynn Al Marjan Island integrated resort. Set to open in 2027, the resort is poised to drive further economic expansion.

Fitch also highlighted Ras Al Khaimah’s high GDP per capita, strong governance, political stability and effective rule of law – key factors that contribute to the Emirate’s attractive investment environment. The rating affirmation stands as an endorsement of the Emirate’s solid public finances, robust growth trajectory and its status as a dynamic and secure global hub for business and investment.

*Source: AETOSWire

View source version on businesswire.com: https://www.businesswire.com/news/home/20250515907689/en/

Media inquiries:

Steven McCombe
media@rakmediaoffice.ae

Logo

Images

Tags

More Like This

S&P Upgrades Oman's Credit Rating to 'BBB-' with Stable Outlook

AM Best Revises Issuer Credit Rating Outlook to Stable of Al Dhafra Insurance Company P.S.C.

OMAN CREDIT OUTLOOK STRENGTHENS AS OIA REFORMS DRIVE FINANCIAL RESILIENCE

AM Best Affirms Credit Ratings of Al Fujairah National Insurance Company PJSC

AM Best Affirms Credit Ratings of Al Fujairah National Insurance Company PJSC

Christie’s International Real Estate Expands to Ras al Khaimah, One of The Fastest-Growing Destinations in the UAE

Ras Al Khaimah Named the World’s Top City for Expatriates ‘To Get Started Abroad’

Abu Dhabi-based Ittihad International Investment LLC receives provisional ‘AAA’ ESG Rating from MSCI, Leading the MENA Industrial Sector