Moody's meets DIFCPress Release 01 Jul 2002 01:00 pm
A senior business delegation from Moody's Interbank Credit Service, led by Managing Director Elisabeth Jackson-Moore, met with key officials from the DIFC, including the Chief Operating Officer Hussain Al Qemzi in Dubai.
Mr. Al Qemzi briefed the Moody's team on the DIFC and explained the measures being taken to position the DIFC as a universally recognized hub for institutional finance. He also outlined the steps taken to create a financial services cluster within DIFC.
A key step in developing this cluster is the DIFC's initiative to develop the Regional Debt Capital Markets, which is essential to unlock the full potential of the Corporate Bond Market in the region.
DIFC invited Moody's to play a key role in developing the regional debt markets, which is estimated to reach US$ 190 billion by 2006. Moody’s expressed an interest in opening an office in DIFC to take advantage of the business potential in the region.
With more than 800 credit analysts operating in 17 offices around the world, Moodys Investors Service is the worlds leading credit rating agency, servicing the capital markets with a wide range of credit and financial strength ratings, research products, and risk measurement systems. Moodys provides credit ratings and analysis on over $30 trillion of debt, covering approximately 85,000 corporate and government securities, 73,000 public finance obligations, 4,300 corporate relationships and 100 sovereign nations.