-- Dubai-based real estate and financial investments group DIFC Investments LLC (DIFCI) has announced a new $1.04 billion bank facility, which we understand it intends to use with existing cash to refinance all
short-term debt.
-- We continue to believe that there's a "very high" likelihood that the Dubai government would provide timely and sufficient extraordinary support to DIFC Investments if needed.
-- We are affirming our 'B+' long-term and 'B' short-term ratings on DIFCI and removing both ratings from CreditWatch negative.
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