12.06.2009 - Sovereign wealth seen bolstering GCC corporate ratings
From Menafn.com: The accumulation of sovereign wealth is enabling governments in the Gulf Cooperation Council, or GCC, countries to raise expenditure in defiance of falling oil receipts, thus limiting the impact on corporate profits, says Moody's Investors Service in a new Special Comment. "Despite falling oil receipts, ample sovereign wealth funds are allowing GCC governments to maintain expenditure and support government-owned corporates in the face of deteriorating fundamentals," the ratings agency said........Full Article: Source