Dubai - Mubasher: Moody’s Investor Service upgraded the ratings of DP World Limited and Jebel Ali Free Zone to Baa2 from Baa3, the company said in a statement.
The upgrade reflects the global trade enabler’s strong credit profile supported by its business resilience as a result of diversified global operations, management track record of successfully growing the business in both favorable and challenging market conditions, and financial flexibility including the ability to delay capital spending, it added.
“We are delighted to have received a rating upgrade by Moody’s following the recent upgrade by Fitch Ratings. Both rating agencies recognise the strength and resilience of our business alongside our continued progress and long-term growth potential,” said Sultan Ahmed Bin Sulayem DP World Group chairman and CEO.
“We remain committed to delivering growth through continued disciplined investments and managing leverage,” the CEO added.
