Wednesday 3 February 2010
Mubadala euro bonds given top credit rating
Mubadala Development, the strategic investment arm of the Abu Dhabi Government, yesterday received top marks from credit ratings agencies on a new short-term borrowing programme.
Moody’s Investors Service, which last year put the ratings of Mubadala and other Abu Dhabi firms on watch for a possible downgrade because of uncertainty about government support, gave the programme a “Prime-1” rating, its highest for short-term borrowers.
Fitch Ratings and Standard & Poor’s also gave it their highest ratings: “F1 plus” and “A1 plus”, respectively.
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