-- The good performance of Dubai-based property company Emaar Properties PJSC's leasing and hospitality assets, and fewer handovers of developments, has raised the proportion of the company's recurring net income.
-- Still, Emaar faces challenges in international development activities, where it has a relatively short track record and is encountering political risk in key markets.
-- We are affirming our 'BB' long-term ratings on Emaar and revising the outlook to stable from negative.
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