Mubasher: Standard & Poor's Financial Services (S&P) has affirmed on Friday the credit rating of Abu Dhabi at 'AA/A-1+', with a ‘Stable’ outlook.
Meanwhile, the rating agency has downgraded the economic outlook for the Emirate of Sharjah to ‘Negative’ from ‘Stable’, according to a statement issued on S&P website.
The rating of Abu Dhabi was based on the foreign reserves in addition to the assets owned by the government of Abu Dhabi, S&P said, adding that the Emirate of Abu Dhabi is expected to have the flexibility essential for facing fluctuations of oil prices.
