VOL. XLVI

No 17

28-April-2003

UAE

UAE A2 Rating Based On Strong Economic, Financial Fundamentals, Says Moodys

The UAEs A2 country ceiling is based on strong economic and financial fundamentals, according to Moody's Investors Service in its annual report on the UAE published on 16 April. Proven oil reserves (90% of which are held by Abu Dhabi) are equivalent to 100 years production at current levels of output. The current account has been in surplus for many years, while reserves and foreign...