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Bahrain's Credit Rating Cut

The global rating agency Moody's cut Bahrain's credit rating one notch Thursday, citing the impact of recent political turmoil on the nation's prospects for growth.

Bahrain has forcibly suppressed an uprising by the Shi'ite-led opposition with the military help of other member states of the Gulf Cooperation Council, including Saudi Arabia.

The agency says unrest damaged economic growth, particularly in tourism, trade, and financial services.

Moody's said tensions remain high, and saw little prospect of solving the underlying political issues.

After the cut Bahrain's bonds are at the third-lowest investment grade. The agency warned it might make further cuts.

Some information for this report was provided by AP, AFP and Reuters.