UAE’s GDP will grow 3% in 2020 | ZAWYA MENA Edition:
The strong financial position of Abu Dhabi’s government along with its developed infrastructure, high per capita income, and vast hydrocarbon reserves support the UAE’s credit profile Aa2 rating, with a stable outlook, according to Moody's Investors Service’s annual report.
That stable outlook is an indicator of the GCC country’s sovereign ratings' balance, Moody's Analyst and report's co-author Thaddeus Best said.
"Its credit profile is supported by the stable outlook on the Abu Dhabi sovereign rating and upside potential from diversification efforts, but is constrained by lingering government-related entity contingent liabilities and geopolitical tensions,” Best added.
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