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FINANCIAL NEWS
Moody’s reports rating outlook for Abu Dhabi to stable
27 May 2017
(MENAFN) Moody’s rating agency reported that rating outlook for the Government of Abu Dhabi will be stable from current negative rates.
And the agency confirmed, the change will be mainly led by effective and broad policy response to the lower oil price environment by the acceleration in the reform agenda.
Earlier, weak oil prices and its impact on government finances and the economy had prompted an acceleration in reforms containing fiscal pressures and supportive of the Emirate’s strategy.
Additionally, electricity, fuel and water prices grew more rapidly and significantly than in other Gulf Cooperation Council (GCC) countries.
MENAFN2705201700450000ID1095513123
MENAFN2705201700450000ID1095513123
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