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Saturday, 13 January 2018

S&P affirms Abu Dhabi credit rating as stable on strong asset position - The National

S&P affirms Abu Dhabi credit rating as stable on strong asset position - The National:

"S&P Global Ratings affirmed on Friday its AA/A-1+ sovereign credit rating for Abu Dhabi, with the Government’s large net asset position said to provide a “considerable buffer” against the impact of commodity market volatility. “The stable outlook on Abu Dhabi reflects our expectation that economic growth will gradually pick up and its fiscal position will remain extremely strong over the next two years, although structural and institutional weaknesses will likely persist,” the rating agency said. While the outlook for Abu Dhabi is “stable”, S&P said it would consider a negative rating action if the country’s fiscal deficits or contingent liabilities led to a drop in liquid assets to below 100 per cent of GDP."



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