S&P affirms Abu Dhabi’s ratings on its robust economic fundamentals and fiscal buffers

S&P affirms Abu Dhabi’s ratings on its robust economic fundamentals and fiscal buffers

S&P Global Ratings affirmed the investment grade rating of Abu Dhabi, citing the strength and resilience of its economic fundamentals and the emirate's large fiscal buffers that are supported by revenue from the hydrocarbon sector.

The AA/Stable/A-1+ rating and stable outlook of the emirate reflects the rating agency's expectation that despite oil price fluctuations, Abu Dhabi's fiscal position will remain robust over the next two years and the emirate has a very strong capacity to meet financial commitments, S&P said in a statement on Tuesday.