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BRIEF-Moody's changes outlook on Abu Dhabi's AA2 rating to stable from negative; affirms ratings
May 25, 2017 / 11:19 AM / 6 months ago

BRIEF-Moody's changes outlook on Abu Dhabi's AA2 rating to stable from negative; affirms ratings

May 25 (Reuters) -

* Moody’s changes outlook on Abu Dhabi’s AA2 rating to stable from negative; affirms ratings

* Moody‘s- key driver of Abu Dhabi’s outlook change are effective, broad policy response to lower oil price environment via acceleration in reform agenda

* Moody’s on Abu Dhabi - weaker oil price, impact on government finances, economy prompted substantial acceleration in reforms containing fiscal pressures

* Moody’s - Abu Dhabi’s economy’s growth prospects, supported by healthy banking system and easing of contingent liability risk are also key drivers of outlook

* Moody’s on Abu Dhabi - Moody’s expects Abu Dhabi’s fiscal deficit to come down to 2.0% of GDP in 2017 and 0.3% of GDP in 2018

* Moody’s - expects Abu Dhabi’s fiscal reserves will remain well above 200% of GDP over next few yrs, under our oil price corridor assumption of between $40 -$60 per barrel through 2018 Source text for Eikon:

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