Standard & Poor's Rating Services said Thursday that it has revised its outlook on Dubai-based DP World Ltd. (DPW) to stable from negative. At the same time, "we affirmed our 'BB/B' long- and short-term corporate credit ratings on DPW".
"The outlook revision and rating affirmation reflect our view that the risk of a negative impact on DPW's creditworthiness as a result of the debt restructuring of its majority parent, Dubai World Corporation, has decreased," said Standard & Poor's credit analyst Karim Nassif.
In addition, the outlook revision reflects our view of a likely improving trend in DPW's financial and operating performance based on that achieved in the first six to nine months of 2010.
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