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Sunday, 23 July 2017

S&P affirms Abu Dhabi's AA/A-1+ credit ratings as high cash reserves outweigh low oil prices  - The National

S&P affirms Abu Dhabi's AA/A-1+ credit ratings as high cash reserves outweigh low oil prices  - The National:

"S&P Global Ratings affirmed on Sunday the credit ratings for Abu Dhabi despite the recent slowdown in economic growth on account of low oil prices due, to the large cash reserves of the emirate which make it "resilient" to shocks in the commodity market.   

At the same time, the rating agency also affirmed the credit ratings of both Sharjah and Ras Al Khaimah. 

The rating agency said it maintained its AA/A-1+ sovereign credit rating on Abu Dhabi while keeping its outlook stable. "



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