Business - Moody’s Investors Service upgrades 3 Abu Dhabi firms:
"Global ratings agency Moody’s Investors Service on Tuesday upgraded credit ratings of three Abu Dhabi companies, citing strong government support for these state-owned entities.
The ratings agency, which earlier this year had praised Abu Dhabi’s economic stability and prudent wealth management, upgraded all the long-term issuer ratings to Aa2 for the International Petroleum Investment Company, or Ipic, from Aa3, for Mubadala Development Company from Aa3 and for the Tourism Development and Investment Company, or TDIC, from A1.
Moody’s also affirmed the P-1 short-term ratings for the Ipic and Mubadala. The outlook on all ratings is stable."
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