Moody’s assigns debut rating to Abu Dhabi’s Masdar
Moody's Investors Service assigned an investment grade A2 rating with a stable outlook to renewable energy company Masdar, marking the first time the Abu Dhabi company is rated by the global agency.
An A2 rating is sixth-highest credit rating of Moody's and indicates low credit risk. Masdar is wholly owned by Mamoura Diversified Global Holding.
“Masdar’s rating benefits from a conservative financial strategy and risk management, which are key governance considerations, including the absence of debt at the holding company level. This is balanced by its reliance on cash flow from associated companies that it does not fully control or that have significant debt of their own,” Moody’s said on Monday
Moody’s expects Mamoura and the Abu Dhabi government to provide further support to Masdar, if required, to maintain Masdar's credit quality.
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