United Arab Emirates’ Sovereign Ratings Affirmed
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Summary
Ref : AE1 9 CRA00- 1 18 th January 2019
United Arab Emirates’ Sovereign Ratings Affirmed
w ith a Stable Outlook
RATING ACTION
Capital Intelligence Ratings (CI Ratings or CI ), the international credit rating agency, today announced that it has affirmed the Long-Term Foreign and Local Currency Ratings of the United Arab Emirates (UAE) at ‘AA-’, and the Short-Term Fore ign and Local Currency Ratings at ‘A1+’. T he Outlook for the ratings is Stable .
RATING RATIONALE
The ratings reflect the continued strength of the country’s external position, characterised by the availability of substanti al financial assets . Th e ratings are also supported by improving public finances, the stable domestic political situation, and high GDP per capita. In addition, the ratings reflect CI’s expectation that the oil rich emirate of Abu Dhabi would be willing to support federal institutions in the unlikely event of financial distress…