| 29 Jul 2008 |
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S&P affirms sovereign ratings on Abu Dhabi
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Tuesday, Jul 29, 2008
Dubai: Standard & Poor's Ratings Services on Monday said it had affirmed its 'AA' long-term and 'A-1+' short-term sovereign credit ratings on the emirate of Abu Dhabi.
"The ratings on Abu Dhabi are supported by the government's very strong asset position, which provides significant financial flexibility, the country's high level of political stability and wealth, underpinned by its rich resource endowment, and by policies that reinforce Abu Dhabi's integration with the global economy," Standard & Poor's credit analyst Luc Marchand said.
The stable outlook on Abu Dhabi balances the emirate's strong financial position and prudent policies against geopolitical risks, rising contingent liabilities, and potential impediments to growth stemming from undeveloped institutions.
By Staff Reporter
© Gulf News 2008. All rights reserved.
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