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Friday, 25 May 2012
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Merrill Lynch Sees Dubai Group Debt Decision as Credit Positive

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Thursday, 9 February 2012

Bank of America Merrill Lynch has said the announcement that the Dubai government would not provide guarantees in support of the Dubai Group restructuring is considered credit positive for Dubai's sovereign credit worthiness, Gulf News has reported. "While decreasing contingent liabilities is positive for sovereign creditworthiness and CDS, the immediate impact may be trumped by broader, more laborious, Dubai Inc. restructurings and sentiment," said Jean-Michel Saliba, an economist with Bank of America Merrill Lynch wrote in a note. However, the decision was broadly shrugged off by the market, he added.

Thursday, 9 February 2012

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