Middle East Economic Survey


No 27


TAQA Drops S&P After Ratings Assessment Overhaul

The Abu Dhabi National Energy Company (TAQA) terminated its relationship with Standard & Poors Ratings Service (S&P) on 1 July after the international credit ratings agency ushered in changes across the globe to the way in which it rates government-related entities (GREs). As a result of its new methodology, TAQA ratings (AA-/A-1+) had been put on negative credit watch (from stable)...