DJ reported that Abu Dhabi may soon find it has to pay more to finance its USD 100 billion investment drive as the oil rich emirate comes under increased scrutiny from investors questioning the terms of support between Arab Gulf governments and their companies.
Mr Abdul Kadir Hussain CEO of Dubai based Mashreq Capital said that "The Dubai World situation has called the concept of implied government support into question and ratings agencies will review companies in the UAE and probably in the region for standalone ratings."
Moody's Investor Services last week placed the debt ratings of 6 high profile Abu Dhabi government investment firms on review for possible downgrade, citing a need to revalidate and possibly reconsider assumptions of government support in Abu Dhabi and Dubai after Dubai World's call for restructuring.
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Wednesday, December 16, 2009
Abu Dhabi may see cost rise for USD 100 billion investment drive
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