While The
Government of Abu Dhabi is strongly placed in the investment grade with ratings of Aa2 by Moody’s and AA by Fitch & S&P, the Emirate of Sharjah just makes it to the investment grade after it was downgraded by Moody’s to
Baa3 last month and to
BBB- by S&P in Oct last year. Emirates of Sharjah’s
4% 2050s were up 0.09 at 92.75 and Emirates of Abu Dhabi’s
3.875% 2050s and
1.7% 2031s were up 0.09 and 0.21 respectively to trade at 111.46 and 96.25 on the secondary markets.