18.03.2009 - Economic woes hit Dubai ratings
From BBC: Standard & Poor's has cut the credit ratings of six Dubai government-backed entities and a leading property firm. It comes weeks after Dubai's finance ministry sold $10bn (6.9bn) in bonds to the United Arab Emirates (UAE), to ease the emirate's liquidity problems. Dubai is one of seven members of the UAE federation. S&P said that the worsening world economy could hit sectors vital to the Dubai economy such as trade, tourism and commerce. .... Full Article: Source
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