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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Market Moves more

Dubai says it has no plans to seek rating, sell bonds

Posted on 25 August 2010

From Bloomberg: Dubai’s government has no immediate plans to seek a credit rating or sell bonds, the emirate’s finance department said ahead of meetings with fixed-income investors in Asia this week.

“Usually, when an organization doesn’t want a credit rating it is because it feels that the rating agencies wouldn’t do justice to its story,” said Abdul Kadir Hussain, chief executive officer at Mashreq Capital DIFC Ltd. in Dubai. “It may be a timing issue, but a rating will be beneficial as it could open an offering to a wider variety of investors.”……………………………………Full Article: Source

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