In an apparent bid to appease associated companies which have been downgraded by Moody's Investors Service Inc, the UAE government has expressed its commitment to continue supporting these firms in future as well.

Rating agency Moody's is expected to cut the rating of three banks in United Arab Emirates under the series of event that have taken place following the Dubai World's crisis. HSBC Bank Middle East may also see downgrading owing to uncertainties of loan recovery.

The agency said, "Moody's believes that despite the timely settlement of obligations falling due this week, the final form of the ongoing restructuring of the remaining debt owed by Dubai World has yet to be defined."