A year-end rally in Dubai-related bonds sends a positive signal for 2012, suggesting more investors are becoming convinced the emirate can arrange smooth refinancings for state-owned firms next year.
Government-related entities in Dubai have bonds worth $3.8 billion (Dh13.95 billion) maturing in 2012. With the real estate market still soft, the stock market uncertain and many banks reluctant to lend because of global financial instability, investors have worried that some of those bonds might be restructured, with changes to repayment terms that disadvantage creditors………………………………………..Full Article: Source