Abu Dhabi's IPIC 'AA/A-1+' ratings affirmed to mirror sovereign ratings - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"Standard & Poor's Ratings Services today affirmed its long- and short-term local and foreign currency issuer credit ratings on Abu Dhabi-based International Petroleum Investment Co. (IPIC) at 'AA/A-1+'. The outlook is stable.
The affirmation reflects that, under our enhanced criteria for rating government-related entities (GREs), we equalize the ratings on IPIC with those on the sovereign, even though the government of Abu Dhabi does not formally guarantee IPIC's liabilities.
Under our criteria, we assess the likelihood that the government of Abu Dhabi would provide extraordinary support to IPIC in the case of financial stress as "almost certain.""
'via Blog this'
No comments:
Post a Comment