Moody’s changes Sharjah view

Moody's Investors Service said it changed the outlook on Sharjah's long-term issuer ratings to negative from stable and affirmed the long-term issuer ratings at A3.

“The negative outlook reflects the government's deteriorating fiscal position which, in the absence of significant fiscal consolidation measures, would point to credit metrics consistent with a lower rating,” the agency said in a news release.

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