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20-03-14

Abu Dhabi's TDIC receives USD544 m aid

(MENAFN) Abu Dhabi-based Tourism Development & Investment Company's (TDIC) has been supported by USD544 million from the government last year, according to the Emirates 24/7. Fitch Ratings said: "The state has consistently provided TDIC with substantial direct financial support, including the provision of free land, recognised by TDIC as equity contributions. In 2013, the government provided cash contribution of more than Dh2bn." The ratings are aligned with the Abu Dhabi sovereign (AA/Stable/F1+), reflecting strong ties with the sovereign.