Arecent report by international ratings agency Moody’s has confirmed that stability of the credit rating given to the United Arab Emirates over the past three years. Moody’s also highlighted that the recent decline in oil prices will have a limited effect on the UAE’s financial reserves in the coming period.
The UAE has achieved significant surpluses, it said.
Moody’s had previously given the UAE an “Aa2” rating with the outlook ‘stable’, which is the highest rating regionally and amongst the highest globally.
It is worth noting that in the ratings agency’s recent report on Sovereign Ratings 2015, it had highlighted that 80% of sovereign ratings enjoy a ‘stable’ outlook compared to 80% in January.
The UAE has achieved significant surpluses, it said.
Moody’s had previously given the UAE an “Aa2” rating with the outlook ‘stable’, which is the highest rating regionally and amongst the highest globally.
It is worth noting that in the ratings agency’s recent report on Sovereign Ratings 2015, it had highlighted that 80% of sovereign ratings enjoy a ‘stable’ outlook compared to 80% in January.
Source:
Mubasher
