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Emaar surges to 65-mth high on ratings boost

February 6, 2014

Shares in Emaar Properties surge to their highest level in 65 months after the company regained an investment-grade credit rating on Wednesday for the first time since 2009, Arabian Business reported. Standard and Poor's raised its long-term rating of Emaar to BBB-minus, the lowest investment grade, from BB-plus. "The credit story is catching up with the equity story," says Sanyalaksna Manibhandu, senior analyst at NBAD Securities . Shares in Emaar rise 5.9 percent to AED8.4, the highest intra-day price since September 2008.; All Rights Reserved - Mubasher Info

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Source: Mubasher (Saudi Arabic)

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