UAE – Mubasher: Moody's Investors Service, the bond credit rating business of Moody's Corporation, on Thursday announced it has withdrawn Jebel Ali Free Zone FZE’s (Jafza) long-term issuer rating of Baa2, setting the outlook to RWR from STA.
This comes following the reimbursement of Jafza's sukuk that was previously rated by Moody's, according to a press release.
“Moody's has decided to withdraw the ratings for its own business reasons,” the release said.
In July, Moody’s said it had completed a periodic review of the ratings of Jafza, the wholly-owned by Economic Zones World FZE, through a portfolio review.
