The New Strategic Plan seek Credit Raiting

Dubai's government plans to seek a credit rating, a first step to selling bonds, as its draws up a financial strategy with advice from JP Morgan and Swiss bank UBS (UBSN.VX: Quote, Profile, Research), a senior official of the Gulf emirate said.
Anticipation of a debut bond from Dubai, commercial hub of the world's biggest oil exporting region, has been growing since a unit of a company owned by the emirate's ruler raised $2.5 billion in a bond sale last month.
"The Government of Dubai is assessing its medium-term financing strategy and is evaluating different available alternatives," said Sami al-Qamzi, director general of Dubai's Finance Department. "The timetable for the ratings process as well as the specifics of Dubai's financing strategy are yet to be finalized".
Dubai is part of the United Arab Emirates, an oil exporting federation that has never sold a sovereign bond.
Dubai Holding Commercial Group's $2.5 billion of sale bonds in dollars, euros, and pounds was seen as a precursor to the emirate's debut in the bond market which would create a benchmark Dubai-based corporate issuers.
Dubai's government planned to issue $4 billion worth of dollar-denominated bonds in the international market to fund infrastructure projects, a Dubai official said last year.
Dubai Holding Commercial Group's sale, rated A+ by Standard & Poor's, AA- by Fitch and A1 by Moody's, received orders of about $12.5 billion last month. Source , Source