Fitch Assigns AA Rating for Government of the United Arab Emirates; Outlook Stable

The United Arab Emirates has received an AA rating (Stable Outlook), assigned by Fitch Ratings (Fitch), in a move reflecting creditworthiness of federal government entities, as well as their keen resilience to draw up plans required to ensure sustainable growth. Fitch notes that this is all done whilst maintaining the highest performance standards with regards to credit control, supported by a range of strengths.

Commenting on these ratings, His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, confirmed that there were several factors behind the rating.

The key contributors included strong and disciplined performance across government inst...