Moody’s on Thursday affirmed its CAA1 rating but changed its outlook on Egypt to positive citing significant official and bilateral support
The rating agency is projecting continued strong momentum in Dubai’s hospitality, and financial services sectors to drive growth in 2024/25
Business optimism and expectations for future activity growth hit its highest since February 2020
The emirate repaid Dhs20bn as part of its total financing from Abu Dhabi and the Central Bank of the UAE
The country’s fiscal and debt positions strengthened in 2022 on the back of higher oil prices and budget consolidation measures
The government’s debt stock could fall even faster if the reduction in nominal debt continues over the coming years
Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher