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Aug 04 2009

JAFZ has rating cut

Jebel Ali Free Zone (JAFZ) had its credit rating cut at Moody's Investors Service, citing financial weakness at its parent company, Dubai World .

Moody's also placed DP World , DIFC Investments , and Dubai Electricity and Water Authority under review for a possible downgrade.

The rating of JAFZ was lowered by one level to A3, which is four steps above non-investment.

© 7Days 2009

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