Middle East Economic Survey

VOL. LIV

No 48

28-Nov-2011

UAE

TAQAs $9Bn Note Program Secures A- Rating From S&P

Standard & Poors Ratings Services said on 24 November it assigned an A- long-term debt rating to Abu Dhabi National Energy Companys (TAQAs) proposed $9bn medium term note (MTN) program. The program, which ranks pari passu with all of TAQAs other outstanding senior unsecured debt, should allow the company to raise funds to pay down existing debt and can also be used for other...