Cost of debt restructurings in Dubai might soar, analysts say:

12/8/2009 | Bloomberg

Morgan Stanley analysts said the debt restructuring of state companies in Dubai, United Arab Emirates, might reach $46.7 billion. Dubai Holding, Dubai Sukuk Center, Dubai Holding Commercial Operations Group and Borse Dubai might need to restructure their debt alongside Dubai World, the analysts said. "We believe that a haircut on the external debt at risk in the area of 40% to 50% is necessary to have a notable long-term favorable impact on public debt dynamics," the analysts wrote in a report.

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