Moody's Keeps UAE at Aa2, Cites Strong Buffers Despite Hormuz Disruption
Moody's affirmed the United Arab Emirates' Aa2 long-term local and foreign currency issuer ratings and kept a stable outlook, despite the effective closure of the Strait of Hormuz since early March. The decision reflects the country's high per-capita income, diversified economy, solid institutions and very low federal debt, balanced against regiona…