Moody’s affirms UAE’s Aa2 rating, maintains stable outlook

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Tue, 2023-03-21 19:28

RIYADH: International credit rating agency Moody’s on Tuesday affirmed the Aa2 long-term local and foreign currency issuer ratings of the UAE’s government with the outlook predicted to remain stable.

Moody’s Investors Service also affirmed the foreign currency senior unsecured debt and program ratings at Aa2 and (P) Aa2, respectively.

As per the report, the UAE federal government’s debt level are likely to remain very low, “supported by its adherence to balanced budget targets and limited spending needs due to the scale of fiscal decentralization within the country.”

The UAE’s local and foreign currency country ceilings remain unchanged at Aaa. Reuters/File
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