Downgrades for Dubai GREs over state support worry

Concerns about Dubai’s government-related entities were reawakened on Tuesday when Standard & Poor’s downgraded three of them and cast doubt about the state’s willingness to help them repay their debt.

  • 30 Jun 2009

DP World and Jebel Ali Free Zone (Jafza) were downgraded from A to BBB+, while Dubai Multi Commodities Centre Authority fell five notches from A- to BB.

The moves were a response to concerns that Dubai’s rulers will not support Nakheel, the state-owned property group that has a $3.5bn ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 120,318.45 348 12.72%
2 Bank of America Merrill Lynch 104,269.08 299 11.02%
3 Wells Fargo Securities 88,761.07 266 9.38%
4 JPMorgan 69,240.12 209 7.32%
5 Credit Suisse 51,560.77 157 5.45%