JP Morgan Securities has said that the government of Dubai may write off its $1bn loan to DIFC Investments in exchange for shares and infuse additional capital of up to $600m to help the group restructure more than $3bn in debt, Reuters has reported. "A key belief associated with a positive outcome for DIFCI's sukuk holders is an assumption of support by the government," JP Morgan analyst Zafar Nazim said in a research note. Nazim upgraded DIFC Investment's Islamic bond maturing in 2010 to "neutral" from "underperform", citing the restructuring programme and asset sale plans.