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Sat 28 Aug 2010 09:57 AM

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Dubai Multi Commodities terminates S & P rating

The Authorities have requested Standard & Poor’s to terminate its public rating.

Dubai Multi Commodities terminates S & P rating
A REQUEST:Dubai Multi Commodities Centre Authority has requested S&P to terminate its public rating. (Getty Images)

Dubai Multi Commodities Centre Authority confirmed it made a request to Standard & Poor’s to terminate its public rating.

“DMCC sees no further requirement for a public rating as it no longer has any public debt following the repayment in May this year of the final $20 million of a $200 million five-year Islamic Sukuk issued in 2005,” it said in an e-mailed statement today.

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Simon 9 years ago

Or maybe the real reason is that DMCC fear a 'real' rating of them as a whole(?)...one which leads to having to be transparent, reporting corporate activities, corporate strength etc, etc something this region has yet to embrace...