Abu Dhabi – Mubasher: Fitch Ratings has affirmed Abu Dhabi National Energy Company's (TAQA) Long-Term Issuer Default Rating (IDR) and senior unsecured rating at 'AA-', with a stable outlook.

Affirming TAQA's rating is driven by Fitch's view of the strong links between TAQA and its majority indirect shareholder Abu Dhabi, under the government-related entities (GRE) rating criteria, according to a recent press release.

Fitch views the business risk of TAQA's regulated transmission and distribution networks, local and international contracted electricity generation, and water desalination assets as low, as compensation mainly depends on the availability of capacity rather than the amount of power or water supplied.

The global rating agency has predicated that TAQA's financial flexibility would remain solid, attributed to strong liquidity and cash flow.