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09-03-23
S&P Global: GCC corporate firms to stay strong ahead of slower expansion this year
(MENAFN) Corporate as well as infrastructure companies in the Gulf Cooperation Council region are anticipated to sustain a strong performance this year in spite of the approaching danger of inflation, greater interest rates, lower-accommodating debt capital markets in addition to the prospect of a financial decelerating, as shown by a latest report by S&P Global.
The US-located credit rating company pointed out that the corporates and infrastructure issuers in the GCC are going to navigate through this year with ease, motivated by steady gaining profiles, robust balance sheets, as well as healthy funding and maturity profiles.
“Most companies exhibit a balanced debt composition with about half of their funding exposed to floating interest rates, and the rest based on fixed rates. However, a handful of companies have higher floating rate exposure, making them more vulnerable to further interest hikes, especially for those operating in cyclical industries that may suffer from economic headwinds,” according to Tatjana Lescova, a credit analyst at S&P Global.
MENAFN09032023000045014228ID1105736948
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