Iran

Iran's CCC sovereign risk rating reflects the government's weak fiscal position resulting from the ongoing difficulty in exporting crude oil, owing to US sanctions and the international dispute over Iran's nuclear programme. Efforts to diversify revenue away from oil and gas will prove difficult in a weak economy, meaning that lower tax revenue is likely. The new president, Hassan Rowhani, will slow spending growth to ease the government's fiscal burden.

Largest Public Companies

• Aburaihan Pharmaceutical Co
• Bank Pasargad
• Parsian Bank