Middle East Economic Survey


No 50



Moodys Downgrades Thor Asset Notes, Places UAE-Related Issuers On Review

Moodys Investors Service downgraded notes issued by Thor Asset Purchase Company Limited, due in 2036, from A1 to A3 on 10 December. The rating action concluded the review process which began on 7 December when the notes were placed on review for possible downgrade (MEES, 7 December). Moodys rating on the notes relies on an explicit guarantee from the Government of...