S&P assigns A long-term rating to Dubai Metals

Standard & Poor's assigned its A long-term and A-1 short-term issuer credit ratings to the Dubai Metals and Commodities Centre. The outlook is stable.

At the same time, S&P assigned its preliminary A senior unsecured debt rating to the upcoming dollar-denominated trust certificates maturing in 2010, issued by Gold Sukuk dmcc.

S&P said the ratings on Dubai Metals are underpinned by strong implicit credit support from the government of Dubai. Dubai Metals was created in 2002 by a decree of the government of Dubai, as a strategic initiative to establish a dedicated economic free zone for the trading of metals and commodities, notably gold - which has a long trading history in Dubai, providing Dubai Metals with a strategic advantage relative to its would-be competitors in the region.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.