Mubasher TV
Contact Us Advertising   العربية

Fitch Ratings assigns Abu Dhabi Ports' EMTN Programme 'A+'; outlook stable

Fitch Ratings assigns Abu Dhabi Ports' EMTN Programme 'A+'; outlook stable
The expected ratings are in line with Abu Dhabi Ports' Long-Term IDR of 'A+'

UAE - Mubasher: Fitch Ratings has assigned Abu Dhabi Ports Company's euro medium-term notes programme (EMTN programme) and the 2031 senior unsecured notes, which will be issued under the programme, expected 'A+' ratings, with a stable outlook.

The expected ratings come in line with Abu Dhabi Ports' Long-Term Issuer Default Rating (IDR) of 'A+', as the notes will represent direct, unconditional, and unsecured obligations for the company, according to a recent press release.

Expected to feature a 10-year bullet amortisation and fixed interest rates, the 2031 notes will be the first to be issued under the new EMTN programme.

The company will benefit from the 2031 notes, together with a recently raised revolving credit facility (RCF), in refinancing its two existing fully drawn AED 4.05 billion RCFs with scheduled maturities in 2021.