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Wednesday, 3 August 2016

U.A.E. Plans to Seek Credit Rating Once Debt Law Is Issued - Bloomberg

U.A.E. Plans to Seek Credit Rating Once Debt Law Is Issued - Bloomberg:

"The United Arab Emirates will seek a sovereign credit rating and tap the bond market soon after authorities approve a long-awaited federal debt law, a senior Finance Ministry official said on Tuesday.
The U.A.E. aims to finalize the law by the end of the year, Younis Al Khoori, undersecretary at the ministry, told Bloomberg News in Abu Dhabi. The measure has been under discussion for several years.
“We are still discussing it with the central bank,” he said. “There is one remaining article under discussion about debt ceiling and debt servicing.” “Once we have a rating, there will be an issuance,” he said."



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