Fitch affirms Jebel Ali Free Zone rating at 'BBB-'

Dubai – Mubasher: Fitch Ratings revised Friday Jebel Ali Free Zone FZE's (JAFZ) Outlook to Positive from Stable and affirmed its Long-term Issuer Default Rating (IDR) at 'BBB-'. Fitch has also affirmed JAFZ Sukuk (2019) Limited's senior secured rating at 'BBB-'.

The revision of the Outlook follows the rating action on DP World Limited (DP World; see 'Fitch Revises DP World's Outlook to Positive; Affirms 'BBB-' dated 16 November 2015 on www.fitchratings.com). In line with Fitch's "Parent and Subsidiary Rating Linkage" methodology, JAFZ's ratings are aligned with DP World's (BBB-/Positive/F3), reflecting Fitch's assessment of strong links between JAFZ and its parent.