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Moody's to review Emaar rating
- United Arab Emirates: Tuesday, June 30 - 2009 at 14:48
Moody's Investor Services has announced that it has downgraded Dubai Holdings Commercial Operations Group (DHCOG) to A3 from A2, and has placed Emaar's Baa1 rating on review for downgrade. The group says that these actions reflect: 'continued fundamental challenges to both companies' business and financial profiles in the wake of difficult conditions on Dubai's property market, despite a recent agreement to merge both entities.'
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StaffTuesday, June 30 - 2009 at 14:48 UAE local time (GMT+4)
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