Establishment of Saxa Energy is mainly to acquire the energy assets of Saxa Gres
, mainly a 3.
Under the revised regulations, banks will have to reduce their excess balance sheet exposures to GREs
There was scepticism over the ability of some of these GREs
to refinance their debts this year, especially in the context of the absence of major European banks from the loan market in the region as many of them are going through deleveraging.
The six GREs
remain on CreditWatch negative while S&P's continues to monitor their respective SACPs in light of possible further market deterioration.
oWe consider this amount to be insufficient for the stated purpose of supporting DubaiAEs GREs
, but expect that the fundAEs resources will soon be topped up with the issuance of the second $10 billion tranche of the program.
By 1997 the GRE
will be offered exclusively on computer.
In response to IMF concerns, the UAE authorities have said that the GREs
have been proactive in managing debt repayments.
status is given to companies which are considered core components of the economy and which, if they ever got into financial difficulty, would be afforded all the resources needed to support them by the Abu Dhabi government.
The total debt of the Dubai government and GREs
continues to be large, and GREs
are likely to continue facing financial challenges in light of large outstanding debt and significant maturities, including on restructured debt, falling due between 2014 and 2018.
Summary: Gradual fiscal consolidation is bringing the Abu Dhabi government fiscal oil breakeven price lower to $95 per barrel in 2013, after a spike due to exceptional support to banks and government-related entities, or GREs
, Bank of America Merrill Lynch Global Research said.
The highest unit weight in production of power energy comes from Reftinskaya GRES
Summary: "Risks linked to the weakening global economic outlook, the Arab Spring, and volatile equity and bond markets have raised concerns as Dubai GREs
face large debt maturities and refinancing needs next year," said Standard & Poor's credit analyst Tommy Trask.