International Petroleum Investment Co., an investment arm of the Abu Dhabi government which bought stakes in European companies including Daimler AG, received investment-grade ratings from three providers.
Moody’s Investors Service assigned an Aa2 rating, the third-highest level, while Fitch Rating and Standard & Poor’s allocated an AA grade, the credit rating companies said in statements received today. Businesses usually ask for credit ratings before tapping debt markets.
IPIC invested more than $2 billion in the past 18 months. The company’s managing director, Khadem al-Qubaisi, said Jan. 10 IPIC aimed to boost its holdings to as much as $20 billion in the next five years from $12 billion to $15 billion now as it seeks to benefit from falling asset prices.
No comments:
Post a Comment