Dubai-Mubasher: Fitch Ratings has revised UAE-based port operator DP World Limited's (DP World) outlook to ’Positive’ from ’Stable’ and affirmed its long-term issuer default rating (IDR) at 'BBB-'.
The positive outlook is supported by improving cash flow margins in H1-15, strong liquidity, and expected deleveraging from 2016 onwards, assuming continued bolt-on acquisitions, said the ratings agency.
It added that DP World's ownership of JAFZ will enable it to improve the layout of the port access and enable it to expand its logistic capacity and access to support ongoing growth of the port of Jebel Ali.
