...OVERVIEW + We continue to expect that the Abu Dhabi government's large net asset position will provide a considerable buffer against the impact of commodity market and other volatility on the economy. + We are therefore affirming our '##/A-1+' sovereign credit ratings on Abu Dhabi. + The outlook is stable. RATING ACTION On June 8, 2018, S&P Global Ratings affirmed its '##' long-term and 'A-1+' short-term foreign and local currency sovereign credit ratings on Abu Dhabi, a member of the United Arab Emirates (UAE). The outlook is stable. At the same time, we affirmed our '##' long-term foreign currency issue rating on the sovereign-guaranteed bond of senior unsecured debt issued by Waha Aerospace B.V. OUTLOOK The stable outlook on Abu Dhabi reflects our expectation that economic growth will gradually pick up and that the country's fiscal position will remain strong over the next two years, although structural and institutional weaknesses will likely persist....
