Dubai Electricity and Water Authority (DEWA), the monopoly state utility, was rated investment grade by Standard & Poor's, the ratings agency said on Monday.
S&P rated DEWA BBB-, the lowest investment grade rating on the agency's scale, with a "stable" outlook, on the potential for high government support from the Dubai government if the company ran into financial trouble.
"The ratings reflect our opinion that there is a very high likelihood that the Dubai government would provide timely and sufficient extraordinary support for DEWA in the event of financial stress," S&P said.
No comments:
Post a Comment