What does AP stand for?

IIB s asset position demonstrates strength with 43 per cent of total assets at September 30, 2009 represented by cash, bank balances and short-dated Murabaha placements with financially-sound regional banks.

Conversely, the ratings could come under downward pressure if regional geopolitical risks escalate, or if the government's asset position deteriorates sharply.

IIB's asset position demonstrates strength with 43pc of total assets represented by cash, bank balances and short-dated Murabaha placements with financially-sound regional banks plus a further 9pc invested in regional listed equities, giving a total liquidity position of 52pc.

In addition, the Cequence Team has extensive experience evaluating and exploiting multi-zone opportunities in the prolific Peace River Arch and Sabretooth's asset position in the Arch is in the middle of areas we are very familiar with.

The ratings on the Emirate of Abu Dhabi are supported by the government's very strong asset position, which provides significant financial flexibility, the country's high level of political stability and wealth, underpinned by its rich resource endowment, and by policies that reinforce Abu Dhabi's integration with the global economy," Standard & Poor's credit analyst Farouk Soussa said.

In elaborating on Japan's strong asset position, the report stated, ''A strong net external asset position and the yen's importance as a key international currency provide the government with ample external liquidity and good access to global capital markets.

The net sovereign foreign asset position, which counts all assets held by the government, including equity assets, is projected to reach $300 billion by the end of 2008, almost double its end-2004 level.

The ratings on Abu Dhabi are supported by the government's very strong asset position, which provides significant financial flexibility, the country's high level of political stability and wealth, underpinned by its rich resource endowment, and by policies that reinforce Abu Dhabi's integration with the global economy," Standard & Poor's credit analyst Luc Marchand said.