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.

Un-justifying the reasons on which grounds their rating have been degraded, Hamad Al Hurr Al Suwaidi, undersecretary of Abu Dhabi's department of finance, said, "We obviously disagree with the reasoning involved in a number of Moody's decisions, especially those concerning TDIC, Mubadala, and IPIC."

Al Suwaidi expressed that the three firms would get un-conditional support from the government and it is very difficult to differentiate the government and its three entities. He added, "We have strong fiscal position and reserves that give us all the capacity we need to meet our commitments to these companies from our own resources."

Earlier, the rating agency downgraded Mubadala and the International Petroleum Investment Co from Aa2 to A1. Overall, the agency reviewed seven Abu Dhabi-based companies since its survey started in December at a time when the crisis ridden Dubai-World started its restructuring operations.

Saud Masud, Head of research at UBS in Dubai added that situations are not easy for Abu Dhabi in coming times and it may face significant slowdown in future under the impact of Dubai World's crisis.