Middle East Economic Survey

VOL. LIV

No 16

18-Apr-2011

UAE

Moodys Upgrades DP World Ratings To Baa3

Moodys Investors Service upgraded to Baa3 from Ba1 the long-term foreign and domestic currency ratings of DP World Limited on 11 April. It also upgraded the rating on the $1.5bn sukuk issued by DP World Sukuk Limited, which is due in 2017. All ratings have a stable outlook. The rating action reflects Moodys view that the company has achieved credit metrics that are commensurate with a higher...