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Sovereign Wealth Funds Briefing - Categorized | Market

Dubai World exposure to weigh on banks in 2010

Posted on 24 December 2009

From WSJ: Dubai’s debt crisis will continue to hang over the earnings and credit quality of banks in 2010, Standard & Poor’s said in a report on the global outlook for global credit markets.

“Indeed, the fallout from Dubai World’s Nov. 25 announcement that it has requested a six-month moratorium on its $26 billion debt payments—subsequently diminished by news of a bailout by Abu Dhabi—illustrated amply the fears of further bank balance-sheet impairment,” the ratings agency said in the report…………………………………..Full Article: Source

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