Standard & Poor’s affirms Abu Dhabi credit ratings despite oil plunge | The National

Standard & Poor’s affirms Abu Dhabi credit ratings despite oil plunge | The National:



"The ratings agency Standard & Poor’s on Monday night affirmed Abu Dhabi’s credit rating, which signals a vote of confidence in the emirate despite the recent fall in oil prices.



“We consider Abu Dhabi’s fiscal and external buffers to be sufficiently strong for the emirate to withstand the lower oil-price trajectory at the current rating level,” the New York-based agency said.



At the same time as it affirmed Abu Dhabi’s rating, S&P lowered its outlook for Saudi Arabia and reduced its rating for Bahrain. It held the ratings and outlook for Qatar stable."



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