A dozen UAE family firms seek ratings

Several UAE-based corporate entities, especially family-owned groups, are seeking credit ratings from international agencies, industry sources said.

More than a dozen large business groups from across the GCC, most of them from the UAE, have signed up with investment bank Alpen Capital for rating advisory services, Rohit Walia, Executive Vice-Chairman and CEO of DIFC-based Alpen Capital, told Emirates Business.

Although the UAE has the most sophisticated business environment in the Gulf, it needs to catch up when it comes to "density of rated corporates".