Moody's upgrades Abu Dhabi company Senaat's rating
Moody’s Investors Service upgraded Abu Dhabi’s industrial holding company Senaat's issuer rating to "A1", from "A3", citing the positive impact linked to parent company ADQ's involvement in its business.
Senaat's rating is only two notches below that of ADQ, which was rated "Aa2" – the third-highest investment grade rating given by Moody's, and at par with the Abu Dhabi government, the agency said on Wednesday.
An "A1" rating indicates a company is well-placed to meet its debt obligations. It is the fifth-highest investment grade rating at Moody's.
The rating agency also upgraded to "A1" the ratings of the senior unsecured $3 billion trust certificate issuance programme of Senaat Sukuk Limited and the senior unsecured debt issued under the programme.
No comments:
Post a Comment