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Aldar downgraded and reclassified by Moody’s

Credit ratings of Abu Dhabi's Aldar Properties' have been cut by two notches by Moody's, which said it was no longer classifying the firm as a government-related issuer, citing uncertainty over future government support, Reuters has reported. The developer, rescued by a $5.2bn bailout by Abu Dhabi in 2011, was downgraded to 'B2' from 'Ba3' with outlook changed to 'Negative', the ratings agency said.