UAE Government rated ‘AA’ with a ‘stable outlook’: Fitch Ratings

UAE Government rated ‘AA’ with a ‘stable outlook’: Fitch Ratings

Fitch Ratings Inc, the US credit rating agency, has rated the federal government of the UAE at -AA with a stable outlook.

The move reflects the creditworthiness of the federal government entities and their vibrant resilience to draw plans necessary for sustainable growth while maintaining the highest performance standards for credit control backed by a large group of factors of strength.

The UAE's strong rating score at this important time underscores the state's great ability to overcome economic challenges and develop creative economic, financial and monetary policies that enabled it to weather the current Covid-19 crisis.

Fitch's rating is based on 18 indexes that measure the economic, financial, banking and monetary sectors in addition to balance of payment and foreign trade.

His