Abu Dhabi – Mubasher: Fitch Ratings has confirmed the Long- and Short-Term Issuer Default Ratings (IDRs) of Mubadala Development and The International Petroleum Investment Company (IPIC) at ‘AA’ and ‘F1+’, with a stable outlook.

Both companies play a key role in Abu Dhabi’s recently-unveiled development plans, the New York-based ratings agency said.

In 2017, Mubadala Development and IPIC were merged as a unit of Mubadala Investment.