Dubai Holding to avoid restructuring, says JPMorgan

15 March 2010

A new report by JPMorgan Chase & Co says Dubai Holding Commercial Operations Group, the investment company owned by Dubai's ruler, will avoid debt restructuring as its balance-sheet and cash-flow profile appear 'sufficiently strong', Bloomberg has reported. 'The company's contractors, despite being owed a substantial amount of money, are likely not in a position to trigger a default,' Zafar Nazim, a London-based analyst at the bank, wrote in the report. 'We do not expect DHCOG to go through a restructuring.'

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