Moody’s and Fitch issue the first investment credit rating for the...

Moody’s and Fitch issue the first investment credit rating for the...
Moody’s and Fitch issue the first investment credit rating for the...
Abu Dhabi – Mubasher: The Abu Dhabi Future Energy Company (Masdar), a subsidiary of Mubadala Investment Company and one of the fastest-growing renewable energy and sustainable development companies in the world, announced today, Monday, an important achievement represented in obtaining its first investment grade credit rating by Moody’s. Investor Services and Fitch Ratings Agency.

Moody’s and Fitch, two of the leading credit rating agencies that assess the credit capacity of commercial and sovereign institutions, have issued their long-term foreign and local currency long-term credit ratings at “A2” and “A+”, respectively, with a forward outlook. stable”.

These classifications come after a careful evaluation and review process in accordance with its own international classification standards.

These ratings drew attention to the agencies’ study of the main factors, including the fact that “Masdar” is a company related to the Abu Dhabi government, and it is rated “AA” by Fitch and “AA2” by “Moody’s”.

The agencies also took into account the fact that “Masdar” is a subsidiary of Mubadala Investment and Al Maamoura Diversified International Holding Company.

While there are no concrete plans for Masdar to raise capital, the credit ratings will provide it with a strong platform to access the capital markets, thus providing it with greater flexibility to finance and invest in new projects at competitive prices and supports its efforts to accelerate its global expansion.

Masdar’s renewable energy projects are spread in more than 30 countries with a total value of $20 billion and a total production capacity of nearly 13 gigawatts.

The evaluation criteria also included Masdar’s track record and experience, as well as its low reliance on external debt thanks to the support of Mubadala and the Abu Dhabi government.

Musabah Al Kaabi, CEO of the UAE investment sector at Mubadala Investment Company, confirmed that Masdar’s obtaining the “A+” and “A2” ratings from Moody’s and Fitch shows the strength of its asset portfolio in the areas of renewable energy and sustainable real estate development. In addition to its important role in supporting economic diversification in Abu Dhabi.

Al Kaabi said: “The rating obtained by Masdar reflects the importance of its role and contribution within the global sustainable development sector, and embodies its success in achieving our future ambitions that we set 15 years ago when Mubadala launched the Masdar Company to be the specialized arm of renewable energy and sustainable urban development in the UAE.”

These were the details of the news Moody’s and Fitch issue the first investment credit rating for the... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Hermes Research Tops Institutional Investor’s Best Frontier Market Ranking

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]