Corporate heavyweights across the Gulf are stepping into 2026 with credit strength intact, even as oil prices soften and geopolitical nerves flicker.
According to S&P Global Ratings, companies across the GCC are expected to preserve stable credit profiles this year, buoyed by solid financial buffers and strong sovereign linkages. Lower crude prices and regional tensions may test sentiment, but most rated entities are viewed as well-positioned to absorb shocks.
The resilience story rests on fundamentals: sturdy balance sheets, comfortable liquidity cushions, and reliable access to funding. Many corporates also benefit from close ties to highly rated governments such as Abu Dhabi, Saudi Arabia and Qatar — a factor that continues to underpin market confidence.
Even if Brent crude drifts toward the $60-a-barrel range in 2026, S&P expects the broader economic engine to keep running. Government spending on diversification drives, combined with the steady expansion of non-oil sectors, is projected to sustain regional growth momentum.
Geopolitics remains the wild card. While tensions — particularly involving the US and Iran — could tighten financing conditions, the ratings agency does not anticipate widespread credit deterioration stemming from current risks.
Operating performance among rated GCC companies is forecast to remain resilient, supported by ongoing public expenditure, firm consumer demand and continued population growth across key markets.
Investor appetite also shows little sign of fatigue. Gulf issuers tapped debt markets for $9.7 billion in January alone, an early indication that funding channels remain open and active.
In short, while oil may ebb and headlines may flare, the Gulf’s corporate sector appears prepared — and provisioned — for the year ahead.
