United Arab Emirates’ Sovereign Ratings Affirmed
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Summary
Ref : AE 20 CRA00- 1 17 th January 2020
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 Currency Rating (LT FC R ) and Long-Term Local Currency Rating (LT LC R) of the United Arab Emirates (UAE) at ‘AA- ’. The sovereign’s Short-Term Foreign Currency Rating (ST FC R ) and Short-Term Local Currency Rating (ST LC R) have also been affirmed at ‘A1 + ’. The Outlook for the ratings remains Stable.
RATING RATIONALE
The ratings reflect the continued strength of the country’s external position which is characterised by the availability of substantial financial assets. The ratings are also supported by sound public finances, the stable domestic political situation, and a high GDP per capita. In addition, the ratings reflect CI Ratings’…