Overview
-- Under our criteria for government-related entities, we consider International Petroleum Investment Company (IPIC) to play a "critical" role for its owner, the Emirate of Abu Dhabi, and to have an "integral" link with the government.
-- We believe that extraordinary support from the Abu Dhabi government would be "almost certain" should IPIC come under financial stress.
-- We are therefore affirming our 'AA' long-term and 'A-1+' short-term ratings on IPIC, equalizing them with our ratings on Abu Dhabi.
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