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Thursday, 25 May 2017

Moody’s upgrades Abu Dhabi’s outlook | The National

Moody’s upgrades Abu Dhabi’s outlook | The National:

"Moody’s Investors Service said on Thursday it has upgraded Abu Dhabi’s credit outlook to stable from negative due to the emirate’s ability to diversify sources of revenue during the period of low oil prices as well as signs of a rebound in the economy. At the same time, the rating agency said that it had affirmed the long and short term issuer ratings for Abu Dhabi at Aa2/P-1, one of the agency’s highest credit ratings. "The weaker oil price and its impact on government finances and the economy has prompted a substantial acceleration in reforms containing fiscal pressures and supportive of the emirate’s diversification strategy," it said in a note."

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