Ras Al Khaimah receives ‘A+’ rating affirmation from Fitch

Fitch has affirmed Ras Al Khaimah’s Long-Term Issuer Default Ratings at ‘A+’ and removed the emirate from ‘Rating Watch Negative’. The agency also upgraded its 2026 economic growth forecast to 1.5 percent, reversing a previous projection of a 1.8 percent contraction.

The upward revision follows stronger-than-expected data from the first half of 2026, which indicated economic resilience driven by solid domestic demand and increased intra-Gulf activity. Fitch projects that GDP growth will rebound further to 5 percent in 2027.

The ‘A+’ rating is supported by low public-sector debt, substantial fiscal buffers, high GDP per capita, and the benefits of membership in the UAE federation. Consolidated public-sector debt is expected to remain stable at approximately 11 percent of GDP through the 2026-2028 period. A government spokesperson stated that the growth trajectory reflects the emirate's ability to turn regional challenges into opportunities.