Government of Abu Dhabi  Aa2 stable: Regular update - Moody's Global Credit Research

Government of Abu Dhabi Aa2 stable: Regular update

Government of Abu Dhabi  Aa2 stable: Regular update - Moody's Global Credit Research
Government of Abu Dhabi Aa2 stable: Regular update
Published Apr 01, 2020
9 pages (5650 words) — Published Apr 01, 2020
Price US$ 250.00  |  Buy this Report Now

About This Report

  
Brief Excerpt:

...Abu Dhabi's (Aa2 stable) credit profile is supported the government's strong balance sheet, with estimated assets under management at the Abu Dhabi Investment Authority far exceeding total liabilities in the wider public sector. The rating is constrained by the government's high reliance on hydrocarbons revenues, limited transparency over the size and composition of financial assets, and the absence of timely, public fiscal data....

  
Report Type:

Credit Opinion

Company:
Issuer
Abu Dhabi, Government of
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Government of Abu Dhabi Aa2 stable: Update following assignment of ESG credit impact scores - Credit Opinion – 2021/02/15 – US$ 250.00 – ...Abu Dhabi's (Aa2 stable) credit profile is supported the government's strong balance sheet, with estimated assets under management at the Abu Dhabi Investment Authority far exceeding total liabilities in the wider public sector. The rating is constrained by the government's high reliance on hydrocarbons revenues, limited transparency over the size and composition of financial assets, and the absence of timely, public fiscal data....

Government of Abu Dhabi Aa2 stable: Regular update - Credit Opinion – 2020/09/29 – US$ 250.00 – ...Abu Dhabi's credit profile is supported the government's strong balance sheet, with estimated assets under management at the Abu Dhabi Investment Authority far exceeding total liabilities in the wider public sector. The rating is constrained by the government's high reliance on hydrocarbons revenues, limited transparency over the size and composition of financial assets, and the absence of timely, public fiscal data....

Government of Abu Dhabi Aa2 Stable: Annual credit analysis - Issuer In-Depth – 2020/05/10 – US$ 750.00 – ...The credit profile of Abu Dhabi reflects the strength of the government's balance sheet. We estimate that total government debt is equivalent to 5% of the total value of the Abu Dhabi Investment Authority's (ADIA) gross assets under management. A very high per capita income, vast hydrocarbon reserves and superior infrastructure also support creditworthiness. In addition, domestic politics are stable and the United Arab Emirates (UAE, Aa2 stable) has good relations with the international community. Abu Dhabi's main credit challenges lie in a lack of institutional data transparency, particularly the absence of public figures on prospective budgets and on the composition of offshore assets managed by ADIA. Regional geopolitical tensions present event risks, and the emirate's dependence on hydrocarbons is also a significant vulnerability. That said, the investment returns from ADIA provide an additional source of stable revenue for Abu Dhabi. The stable outlook indicates that the rating is...

Government of Abu Dhabi Aa2 stable: Update following forecast change - Credit Opinion – 2020/04/18 – US$ 250.00 – ...Abu Dhabi's (Aa2 stable) credit profile is supported by its strong balance sheet, with sovereign wealth fund assets far exceeding total government liabilities, which mitigate the vulnerability of government revenue to temporary declines in oil prices, such as the one caused by the coronavirus pandemic. The rating is constrained by the government's reliance on hydrocarbons revenues, and the absence of timely and transparent fiscal data....

Moody's assigns Aa2 rating to Abu Dhabi's $10 billion three tranche bond - Rating Action – 2019/10/01 – US$ 180.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

Government of Abu Dhabi Aa2 stable: Regular update - Credit Opinion – 2019/09/16 – US$ 250.00 – ...Abu Dhabi's credit profile is supported the government's strong balance sheet, with estimated assets under management at the Abu Dhabi Investment Authority far exceeding total liabilities in the wider public sector. The rating is constrained by the government's high reliance on hydrocarbons revenues, limited transparency over the size and composition of the government's financial assets, and the absence of timely, public fiscal data....

Abu Dhabi, Government of - Country Statistics – 2019/06/03 – US$ 750.00 – ...MOODY'S CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS AND IT WOULD BE RECKLESS AND INAPPROPRIATE FOR RETAIL INVESTORS TO USE MOODY'S CREDIT RATINGS OR MOODY'S PUBLICATIONS WHEN MAKING AN INVESTMENT DECISION. IF IN DOUBT YOU SHOULD CONTACT YOUR FINANCIAL OR OTHER PROFESSIONAL ADVISER. ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY LAW, INCLUDING BUT NOT LIMITED TO, COPYRIGHT LAW, AND NONE OF SUCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT MOODY'S PRIOR WRITTEN CONSENT. CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT INTENDED FOR USE BY ANY PERSON AS A BENCHMARK AS THAT TERM IS DEFINED FOR REGULATORY PURPOSES AND MUST NOT BE USED IN ANY WAY THAT COULD RESULT IN THEM BEING CONSIDERED A BENCHMARK. All information contained...

Government of Abu Dhabi Aa2 Stable: Annual credit analysis - Issuer In-Depth – 2019/04/15 – US$ 750.00 – ...The main credit strength of Abu Dhabi (Aa2 stable) is its healthy government balance sheet: we estimate that total government debt (including guarantees) is equivalent to 3.7% of the total value of the Abu Dhabi Investment Authority's (ADIA) gross assets under management. A very high per capita income, vast hydrocarbon reserves and superior infrastructure also support creditworthiness. In addition, domestic politics are stable and the United Arab Emirates (UAE, Aa2 stable) has strong international relations. Abu Dhabi's main credit challenges lie in a lack of institutional transparency, particularly the absence of public figures on prospective budgets and on the composition of offshore assets managed by ADIA. Regional geopolitical tensions also present event risks. The emirate's dependence on hydrocarbons is also a significant vulnerability. Although the government has taken active measures to reduce the economy's sensitivity to oil price shocks, non-oil sectors are less developed than...

Government of Abu Dhabi Aa2 Stable: Update following rating affirmation, outlook unchanged - Credit Opinion – 2019/03/26 – US$ 250.00 – ...Abu Dhabi's credit profile is supported the government's strong balance sheet, with estimated assets under management at the Abu Dhabi Investment Authority far exceeding total liabilities in the wider public sector. The rating is constrained by the government's high reliance on hydrocarbons revenues, limited transparency over the size and composition of the government's financial assets, and the absence of timely, public fiscal data....

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Cite this Report

  
MLA:
Moody's Global Credit Research. "Government of Abu Dhabi Aa2 stable: Regular update" Apr 01, 2020. Alacra Store. Mar 28, 2024. <http://www.alacrastore.com/moodys-credit-research/Government-of-Abu-Dhabi-Aa2-stable-Regular-update-PBC_1221250>
  
APA:
Moody's Global Credit Research. (). Government of Abu Dhabi Aa2 stable: Regular update Apr 01, 2020. New York, NY: Alacra Store. Retrieved Mar 28, 2024 from <http://www.alacrastore.com/moodys-credit-research/Government-of-Abu-Dhabi-Aa2-stable-Regular-update-PBC_1221250>
  
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