Moody's: Dubai Holding stable

Moody's Investors Service said its annual report on Dubai Holding Commercial Operations Group LLC shows the company's A1 ratings remain firmly supported by its close association with the government of Dubai and its role as one of the Emirate's most strategic corporate enterprises.

The outlook remains stable.

The company has executed many of its near-term strategic priorities and has started to produce additional revenues from the hand-over of large real estate projects, Moody's said.

Whilst its balance sheet is strong and carries fairly limited leverage today, the agency said the ratings are constrained by its lack of diversification, which may require larger external funding over time.

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