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S&P affirms its AA rating for Abu Dhabi

25 November 2010

Abu Dhabi's sovereign credit ratings have been affirmed by Standard & Poor's at 'AA' long-term and 'A-1+' short-term with 'Stable' outlook, Khaleej Times has reported. S&P has cited the very strong asset position of the emirate's government, which provides significant financial flexibility. "The stable outlook on Abu Dhabi balances the Emirate's strong financial position and prudent policies against geopolitical risks, high contingent liabilities, and potential impediments to growth stemming from undeveloped institutions," S&P credit analyst Luc Marchand said.

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