Standard & Poor's Ratings Services said today that it has affirmed its 'AA' long-term and 'A-1+' short-term sovereign credit ratings on the Emirate of Abu Dhabi, a member of the United Arab Emirates (UAE).
The outlook is stable. Our Transfer & Convertibility assessment is unchanged at 'AA+'.
"The ratings on Abu Dhabi are supported by the government's very strong asset position, which provides significant financial flexibility, and that has allowed the emirate--through strong countercyclical policies and preemptive support to the financial sector--to face the global economic downturn with a high degree of resilience," said Standard & Poor's credit analyst Luc Marchand.
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