- Language: English
- 774 Pages
- Published: October 2012
- Region: Global
Summary: Jebel Ali Free Zone (FZE) Dec 11
- Published: December 2011
- Standard & Poors
The 'B' issuer credit rating on Dubai-based free zone company Jebel Ali Free Zone (FZE) (JAFZ) reflects Standard & Poor's Ratings Services' view of its stand-alone credit profile (SACP) of 'b-', plus one notch of uplift based on our assessment of a "moderate" likelihood of timely and sufficient extraordinary support from the government of Dubai. The SACP is constrained by the very weak credit standing and lack of transparency of JAFZ's ultimate parent company, Dubai World Corp. (DWC; not rated), and JAFZ's significant refinancing needs. However, we apply one notch of uplift to the SACP to determine the issuer credit rating because of our view of the free zone's important role to the Dubai economy. It is unclear to us...
Companies mentioned in this report are: Jebel Ali Free Zone (FZE)
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Jebel Ali Free Zone (FZE)