UAE school fees freeze a “credit negative“ for education group GEMS

UAE school fees freeze a “credit negative“ for education group GEMS

Author: ARAB NEWSID: 1616074921098443000Thu, 2021-03-18 16:18

DUBAI: A decision to freeze school fees in Dubai and Abu Dhabi for the 2021/22 academic year will limit the ability of education company GEMS to boost revenues, said Moody's.

While this impact was largely anticipated it nonetheless creates "a degree of uncertainty regarding GEMS' ability to increase tuition fees consistently in the future, which may further slow down its deleveraging trajectory,“ the credit ratings agency said.Main category: Business & Economy