Abu Dhabi – Mubasher: Moody’s Investors Service assigned a definitive A1 rating to a new $863 million bank credit facility to be raised by Dolphin Energy Limited (DEL), to be issued in a 15-year amortising form.
Moody's also affirmed its A1 ratings on Dolphin’s existing debt. The outlook on the existing debt and new facility ratings is stable.
Fitch Ratings also affirmed DEL’s $1.250 billion 5.888% secured bonds due 15 June 2019 and $1.3 billion 5.5% secured bonds due 15 December 2021 at 'A+'. The outlooks are Stable.
The rating action reflects Fitch's view that the additional debt does not have a negative impact on the credit quality of DEL's bonds.
