Brand has created a diverse line of products — from bath ritual products to organic baby clothing — that are crafted to give babies the best start in life
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Analysts at Moody’s said that prospects for longer maturities on high quality credit over shorter tenors would contribute to a stabilisation of the regional market.
“The main drivers of credit quality will be industry-specific fundamentals as well as the companies’ ability to improve liquidity profiles and to extend debt maturities, which have remained comparatively short and clustered,” said Philipp Lotter, senior vice president, based in Dubai.
Gulf issuance of conventional as well as Islamic bonds, or sukuk, in 2009 remained well below the previous year’s levels, but the region saw a flurry of corporate issues in the third quarter, as investor appetite improved.
News that Dubai World would seek a standstill on $26 billion in debt payments as it seeks to restructure sent shockwaves through global markets as investors recoiled at the prospects of defaults.
Towards the end of 2009, a deterioration in corporate credit quality, attributed to weaker fundamentals and uncertainty surrounding government support, led to an increase in downward ratings actions.
“Indeed, the average rating in the Gulf has migrated from A1 in 2008 to Baa1 in 2009,” Lotter said.
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