Credit Suisse lowers Sorouh to 'neutral'
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Credit Suisse lowers Sorouh to 'neutral'

Credit Suisse lowers Sorouh to 'neutral'

Abu Dhabi's second-biggest property developer by market value, Sorouh Real Estate has been lowered to "neutral" from "outperform" by Credit Suisse Group, citing concern about funding and low project visibility, Bloomberg has reported. The company's estimated Dhs2bn ($545m) of gross cash may be used by the end of this year and it will have to raise between Dhs3bn and Dhs4bn from debt sales to finance existing projects, Dubai-based analysts Ahmed Badr and Hans Zayed wrote.

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