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ADQ, one of the largest holding companies in the region, have been assigned these long-term issuer credit ratings that both mean “stable,” said the reports
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The credit ratings are reportedly on par with the Abu Dhabi government’s credit ratings, said the reports
Global credit ratings agencies Moody’s and Fitch have assigned Abu Dhabi Developmental Holding Company, also known as ADQ, ratings of Aa2 and AA, respectively, said local reports on Tuesday, June 22.
ADQ, one of the largest holding companies in the region, has been assigned these long-term issuer credit ratings that both mean “stable,” said the reports.
The credit ratings are reportedly on par with the Abu Dhabi government’s credit ratings.
The reports quoted ADQ CEO Mohamed Hassan Alsuwaidi as saying: “ADQ’s very strong credit ratings are consistent with the Abu Dhabi government’s solid financial standing. The ratings are a reflection of ADQ’s robust portfolio and important role in the diversification of the Abu Dhabi economy. As a new engine of growth for Abu Dhabi’s economic diversity and prosperity, we are well positioned to grow our clusters and manage our portfolio of assets.”
ADQ CFO Marcos de Quadros was quoted by the reports as saying: “From the outset, ADQ has consistently applied rigorous portfolio management principles and a disciplined approach to capital deployment to deliver on our mandate to create value for our strategic partner and shareholder, the Abu Dhabi Government. The very strong credit ratings are a testament of our progress and will provide ADQ with new opportunities to further diversify and optimize our capital structure.”
