RIYADH: Fitch Ratings has affirmed Abu Dhabi’s long-term issuer default ratings at “AA” with a stable outlook, citing the emirate’s high gross domestic product per capita, very strong fiscal and external metrics, and low government debt. The ratings agency said Abu Dhabi’s government debt remains among the lowest of Fitch-rated sovereigns, while its sovereign net foreign assets rank among the highest. However, the rating is constrained by the emirate’s heavy reliance on hydrocarbons, a relativ

Source: Arab News