Wednesday 21 October 2009

Dubai Still To Decide On Rating As $10B Bond Looms-Official

Dubai's government is yet to decided whether to seek a sovereign rating after announcing plans to speak with agencies late last year.

"No decision has been taken on a sovereign rating," a Dubai Department of Finance spokesman told Zawya Dow Jones Wednesday. The spokesman declined to comment further on the matter.

Indecision on seeking a sovereign rating could be a sign that Dubai will turn to regional investors, such as banks or sovereign wealth funds, to buy its next $10 billion bond to help struggling government companies, bankers and analysts say.

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