S&P affirms Abu Dhabi's ratings and forecasts economic growth for 2018 - The National

S&P affirms Abu Dhabi's ratings and forecasts economic growth for 2018 - The National:

"S&P Global Ratings has affirmed its ratings for Abu Dhabi on the back of its net asset position and has forecast a return to economic growth for the emirate in 2018, thanks to higher oil prices and government spending.

“The ratings are supported by Abu Dhabi's strong fiscal and external positions,” S&P said in a report released on Sunday. “The exceptional strength of the government's net asset position provides a buffer to counteract the impact of oil price swings on economic growth, government revenues, the external account, and increasing geopolitical uncertainty in the Gulf region.”

Abu Dhabi, which is rated AA/A-1+ with a stable outlook by S&P, has strong financial buffers that have protected it over the years from oil price volatility that created budget shortfalls and slowed down the economy."



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