RIYADH: S&P Global has assigned the UAE a long-term credit rating of “AA” with a stable outlook as it expects strong fiscal and external positions to be maintained over the next two years.
In its latest report, the global credit rating agency said that the grade also reflects the Emirates’ net asset position, which could provide a buffer to counteract the effects of oil price swings and geopolitical tensions in the Gulf region.
According to the agency, “AA” indicates a country’s strong capacity to meet its financial commitments.
The strong rating of the UAE aligns with the broader trend observed in the Middle East region, and in March, S&P Global raised Saudi Arabia’s rating to “A+” from “A” with a stable outlook underpinned by the Kingdom’s ongoing social and economic transformation.
In its latest report, the US-based agency said: “The stable outlook reflects our expectation that the UAE’s consolidated fiscal and external positions will remain strong over the next two years, amid continued prudent policymaking and resilient economic growth.”
