Abu Dhabi – Mubasher: Moody’s Investors Services has affirmed the long-term rating of the UAE at “Aa2”, the US-based agency said in a report issued late on Monday, adding that the outlook on the rating is stable.
The rating is supported by the key rating factors; namely, Moody's assumption of unconditional support from Abu Dhabi (Aa2 stable) to the federal government, and robust credit fundamentals including very high fiscal strength, with a broadly balanced budget and negligible or very low federal government debt, high wealth levels, and strong institutions, the rating agency said.
“The stable outlook indicates that the risks to the ratings are broadly balanced supported by the stable outlook on the Abu Dhabi sovereign rating, upside potential from continuing diversification efforts, and constrained by lingering government-related entity contingent liabilities and geopolitical tensions,” Moody’s highlighted.
