Middle East Economic Survey


No 44



Moodys Upgrades DEWA Rating On Revenue Climb

Moodys Investors Service said on 24 October it had upgraded to Ba1 from Ba2 the corporate family rating (CFR) and probability default rating (PDR) of Dubai Electricity and Water Authority (DEWA). Concurrently, the agency revealed it had also upgraded to Ba1 from Ba2 the rating for DEWA Funding Ltd a special purpose entity set up for the sole purpose of issuing Sukuk and assigned a stable...