The ripple effects from the debt restructuring of Dubai World can be felt throughout Dubai with the series of credit downgrades being initiated by the various rating agencies.
Many analysts believed that the Dubai government would guarantee the debts of the those state-owned companies. Now they realize that this is not the case which has resulted in a series of credit downgrades. The ownership structure of these companies is very complex and it would take some time before analysts figure out which companies are actually government guaranteed and which are not.
No comments:
Post a Comment