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Moody's to use Nakheel bond payment as litmus
- United Arab Emirates: Thursday, June 11 - 2009 at 10:52
Moody's Investors Services has said that Nakheel, which has to repay a $3.5bn Islamic bond in December, will be a 'litmus test' for the six Dubai-owned companies assessed by the rating company. Nakheel 'does not have the stand alone capacity to repay its bond. Our assumption at the moment is that the government will step in,' said Philipp Lotter, a Dubai-based analyst at Moody's.
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StaffThursday, June 11 - 2009 at 10:52 UAE local time (GMT+4)
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