Dubai Holding Commercial Operations Group, part of the Dubai Holding conglomerate controlled by the emirate’s ruler Sheik Mohammed bin Rashid Al Maktoum, has appointed financial-services firm PricewaterhouseCoopers as advisers ahead of a potential debt restructuring, a person familiar with the matter said Monday.

Dubai Holding Commercial Operations oversees Dubai Holding’s property, business parks and hospitality investments including hotels operator Jumeirah.

In January, Dubai Holding Commercial Operations ended its relationship with Standard & Poor’s Corp. after the rating agency said it had concerns about transparency. Just before the relationship was terminated, S&P had lowered the company’s credit rating to B with a negative outlook, from BB+, saying its exposure to the severe downturn in Dubai’s real-estate market constrained its credit quality. [Read More]