Middle East Economic Survey
Fitch Affirms Thor Rating With Negative Outlook
Fitch Ratings affirmed on 17 March its Thor Asset Purchase notes rating at BBB-, removed the rating from rating watch negative (RWN) and assigned a negative outlook. Thor is a securitization of water and electricity receivables generated by the Dubai Electricity and Water Authority (DEWA, rated BBB-/RWN/F3). The changes reflect Fitchs opinion that amendments to the transaction documents...