Abu Dhabi – Mubasher: Moody's Investors Service on Thursday withdrew Aa2 long term global scale and P-1 short term issuer ratings of the UAE’s International Petroleum Investment Company (IPIC).

The (P)Aa2 backed senior unsecured global medium-term note programme (GMTN) rating of the Abu Dhabi-based company was also withdrawn by the global rating agency.

“At the time of withdrawal, there was no instrument rating outstanding. Prior to the withdrawal, the outlook was stable,” Moody’s said.

The rating withdrawals came after the transfer of all of IPIC’s bonds to Mubadala Development Company.