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Dubai debt insurance costs rise on Dubai World doubts

Posted on 04 February 2010

From Arabianbusiness.com: Uncertainty about state owned Dubai World’s $22 billion debt restructuring is starting to weigh on the credit again, pushing up bond yields and Dubai’s debt insurance costs, just six weeks after a multi billion dollar bailout by neighbouring Abu Dhabi.

Dubai World stunned markets when it announced a debt payment standstill at the end of November. A $10 billion bail out by Abu Dhabi has allowed the company to continue to make debt payments, but it has yet to reach a formal standstill agreement with creditors…………………………………….Full Article: Source

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