Standard & Poor's Rating Services said today that it has revised its outlook on Dubai-based port operator DP World Ltd. (DPW) to positive from stable.
We also affirmed our 'BB' long-term corporate credit and senior unsecured debt ratings, and our 'B' short-term corporate credit rating on DPW.
The recovery rating on the senior unsecured debt is unchanged at '3', indicating our expectation of meaningful (50%-70%) recovery in the event of a payment default.
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