Monday 6 February 2012

Dubai will meet debt maturities in 2012, says report - Emirates 24/7

Dubai will overcome its debt maturities in 2012 with the help of internal cash flow, asset sale and market refinancing, said a report.

Lebanese Bank Audi analysts said in a report that Dubai is indeed likely to be able to manage the rollover of its 2012 debt maturities through a combination of internal cash generation, potential asset sales and market refinancing.

Investment bank JP Morgan also said in a report last month that Dubai's government-related entities (GREs) can pay down or refinance nearly $14 billion in debt maturing in 2012 with relative ease.

“The $14-billion wall of debt maturities at Dubai GREs next year is not nearly as daunting as the headline number suggests," JP Morgan analyst Zafar Nazim said in the report.

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