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Total debt in the region at $145 billion

GCC companies face $28 billion in maturing debt by 2012.


June 15, 2010 10:25 by

Moody’s Investors Service said in a new report on GCC corporate sector, that Gulf companies face significant “maturing debt” that will pose challenges by 2012, the National reported today.

The Moody’s report estimates total debt in the region at $145 billion, with an estimated $28 billion coming to maturity within the next 18 to 30 months. The report said that companies in Dubai and Abu Dhabi hold the majority of the maturing debt, and the most exposed sectors are investment holding companies and real estate developers.

Moody’s analysts predict that credit in the Gulf will remain tight, “as access to capital and liquidity remains constrained,” the report added. Areas for improvement, according to the report, included bolstering investor confidence and corporate transparency, and instituting better regulatory frameworks.


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