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 Oct 20, 2021
8 pages (4884 words) — Published Oct 20, 2021
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About This Report

  
Brief Excerpt:

...Abu Dhabi's credit profile is supported by the government's strong balance sheet and net creditor position, with sovereign wealth assets far exceeding total liabilities in the wider public sector, as well as its very high income levels and vast hydrocarbon endowment. These strengths are balanced against the very significant reliance of the economy and government finances on hydrocarbons and regional geopolitical tensions....

  
Report Type:

Credit Opinion

Company:
Issuer
Abu Dhabi, Government of
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Government of Abu Dhabi - Aa2 stable: Annual credit analysis - Issuer In-Depth – 2021/05/25 – 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 reflects our expectation that...

Government of Abu Dhabi Aa2 stable: Update following rating affirmation, outlook unchanged - Credit Opinion – 2021/05/05 – 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....

Moody's affirms Abu Dhabi's Aa2 ratings; maintains stable outlook - Rating Action – 2021/05/04 – US$ 180.00 – use of or inability to use any such information. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY CREDIT RATING, ASSESSMENT, OTHER OPINION OR...

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....

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Moody's Global Credit Research—Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.

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MLA:
Moody's Global Credit Research. "Government of Abu Dhabi Aa2 stable: Regular update" Oct 20, 2021. Alacra Store. Nov 30, 2021. <http://www.alacrastore.com/moodys-credit-research/Government-of-Abu-Dhabi-Aa2-stable-Regular-update-PBC_1301882>
  
APA:
Moody's Global Credit Research. (). Government of Abu Dhabi Aa2 stable: Regular update Oct 20, 2021. New York, NY: Alacra Store. Retrieved Nov 30, 2021 from <http://www.alacrastore.com/moodys-credit-research/Government-of-Abu-Dhabi-Aa2-stable-Regular-update-PBC_1301882>
  
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