US downgrade threat to Gulf borrowing costs - The National

Financial companies in the Gulf face the risk of rising borrowing costs after Standard & Poor's downgrading of the US's credit rating.

The move is raising fresh concern about regional institutions' large holdings of the country's debt.

While no official figures exist on how much US debt Gulf players hold, businesses and governments in the region are thought to have many billions of dollars of US treasuries in their coffers.

* username: rupertbu