Middle East Economic Survey
VOL. LII
No 17
27-Apr-2009
UAE
Moodys Downgrades Shuaa Rating by Two Notches
Moodys Investors Service on 16 April downgraded the long-term foreign currency and local currency issuer ratings of investment bank Shuaa Capital by two notches to Ba1 from Baa2 and its short term ratings to Not-Prime. The rating outlook is negative, concluded a review initiated on 10 December 2008. The rating agency attributed the downgrade to deterioration in the companys fundamentals, in...
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