DEWA refinancing weighs as pressure mounts
- From: Vol 10, Issue 2 (February 2009)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Dubai Electricity and Water Authority , Dubai Islamic Bank, Moody’s, Royal Bank of Scotland and Standard Chartered Bank
Refinancing a $2.2 billion loan in April could prove costly for Dubai’s water authority. What are its options?
The Dubai Electricity and Water Authority will find it more expensive to sponsor water projects in future, as its credit ratings face further downgrades as a result of the emirate’s perceived vulnerability to the global recession.
DEWA’s credit standing is closely linked to that of the Dubai government, which the rating agencies consider to be at risk from ...
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