Fitch Ratings has affirmed the United Arab Emirates’ long-term foreign-currency issuer default rating at AA- with a stable outlook. Earlier this week, the agency also confirmed Abu Dhabi’s rating at AA, maintaining a stable outlook for the emirate as well. The AA- rating is reflective of the UAE’s moderate consolidated government debt, strong net external...
Rents in Dubai are expected to remain under pressure in 2025 and 2026 due to a significant influx of over 200 000 new residential units entering the market. This assessment comes from Fitch Ratings, which highlights that the local property market will be tested by this large supply. According to Fitch, “Rent prices in most...
Gulf Cooperation Council (GCC) countries accounted for over 35 percent of all emerging-market (EM) U.S. dollar debt issued in the first quarter of 2025, excluding China. This represents an increase from approximately 25 percent in 2024, according to a report by Fitch Ratings. Fitch predicts that this upward trend in GCC debt capital markets (DCMs)...
Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality. The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region....
The total value of debt securities listed on Nasdaq Dubai has crossed $136.2 billion, following the recent issuance of a $1 billion sukuk by the Government of Ras Al Khaimah. This latest listing brings the total value of sukuk on the exchange to over $92.7 billion, solidifying Nasdaq Dubai’s status as a leading global hub...