Middle East Economic Survey
VOL. LII
No 28
13-Jul-2009
UAE
Moodys Downgrades JAFZ To A2, Ratings Under Review for Possible Further Downgrade
Moodys Investors Service on 8 July downgraded the foreign and local currency issuer ratings of Jebel Ali Free Zone (JAFZ) and the rating for the JAFZ Sukuk Limited Dh7.5bn ($2.04bn) trust certificates due in 2012 to A2 from A1, and placed the ratings under review for further possible downgrade. The decision was driven by the close commercial relationship...
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