Moody's takes multiple rating actions on Dubai government-owned companies

Moody's Investors Service has taken multiple rating actions on four government-related issuers (GRI's) in Dubai.

The A1 ratings of DP World, DIFC Investments (DIFCI) and Dubai Electricity & Water Authority (DEWA) were placed on review for possible downgrade.

The ratings of Jebel Ali Free Zone (Jafz) were downgraded by one notch to A3 from A2 and placed on review for further possible downgrade. In addition, Moody's has withdrawn the rating for Jafz's MTN programme, under which there have not been any issuance.

The A3 ratings of Dubai Holding Commercial Operations Group (DHCOG) and the Baa1 ratings of Emaar Properties (Emaar) were unchanged and remain on review for downgrade pending the merger of DHCOG's real estate activities with Emaar.

Related articles by Zemanta

• S?P downgrades seven Dubai business to near junk rating (telegraph.co.uk)