We expect the Abu Dhabi government's substantial net asset position will shield it against almost all possible external shocks. We are therefore affirming our 'AA/A-1+' sovereign credit ratings on Abu Dhabi. The outlook is stable. On Nov. 30, 2018, S&P Global Ratings affirmed its 'AA/A-1+' long- and 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 'AA' long-term foreign currency issue rating on the sovereign-guaranteed bond of senior unsecured debt issued by Waha Aerospace B.V. The stable outlook on Abu Dhabi reflects our expectation that economic growth will steadily recover and that the country's fiscal position will remain strong
