Moody's revises Emaar Malls view to negative

Moody's Investors Service said it changed the outlook to negative from stable and affirmed Emaar Malls' long-term issuer rating of Baa2.

Moody's also affirmed the Baa2 rating on the $750 million sukuk due in 2024 issued by EMG Sukuk Ltd.

“The decision to change the outlook to negative from stable reflects Moody's expectations that the spread of the coronavirus pandemic as well as the deteriorating macroeconomic outlook for the Emirate of Dubai will lead to an increase in leverage,” said Moody’s in a press release.

© 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.