Moody’s gives Aldar a big upgrade | The National

Moody’s gives Aldar a big upgrade | The National:

"Moody’s Investors Services, the credit ratings agency, has given Abu Dhabi’s Aldar Properties a big upgrade in an assessment of its financial health.

Moody’s marked Aldar up three full notches, the second time this week a ratings agency has raised its estimate of the company’s creditworthiness. Standard & Poor’s marked up Aldar’s prospects by a more modest two notches.

Aldar’s multibillion-dollar merger with Sorouh was completed in the summer. The Moody’s analyst Martin Kohlhase said the deal was “transformational in nature as it added material recurring rental income from residential properties and created the leading Abu Dhabi real estate player with a large land bank and a sizeable investment property portfolio”."

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