S&P rates Dubai Holding Commercial Operations A+

Standard & Poor's said it assigned its A+ long-term corporate credit rating to the Dubai Holding Commercial Operations Group LLC.

The outlook is stable.

The agency said that the rating on Dubai Holding Commercial Operations reflects the group's important role in the economic development of Dubai and the 100% ownership by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the ruler of Dubai and the vice president and prime minister of the United Arab Emirates.

S&P added that the rating also reflects the group's well-established market position, good cash flows, low debt leverage and strong asset base, noting that the major offsetting factor is the risk of an economic downturn reducing demand for real estate and/or the potential oversupply of real-estate projects in the longer term.

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