Aldar Properties has B/B ratings affirmed
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Aldar Properties has B/B ratings affirmed

Aldar Properties has B/B ratings affirmed

Long- and short-term corporate credit ratings on Abu Dhabi-based property developer Aldar Properties have been affirmed by Standard & Poor's Ratings Services at 'B/B' with 'Stable' outlook. The ratings agency also removed the ratings from CreditWatch, where they had been placed with developing implications on January 18, 2011. "The affirmation reflects improvements in Aldar's liquidity and capital structure that we expect to follow asset sales to the government worth Dhs16.4bn and issuance of an Dhs2.8bn mandatorily convertible bond to the emirate's investment company, Mubadala Development Co (AA/Stable/A-1+)," S& P said.

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