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  • 13-11-21

    Rating agency Moody’s promotes Abu Dhabi firm Senaat's rating

    (MENAFN) Moody’s Investors Service promoted Abu Dhabi’s industrial holding corporation Senaat's issuer rating to "A1", from "A3", quoting the positive influence related to holding company ADQ's connection to its business.

    On Wednesday, Moody’s stated Senaat's rating is two scores below that of ADQ only, which was rated "Aa2" – the third-highest investment score rating set by Moody's, and face value with the Abu Dhabi government.

    An "A1" rating shows a firm is well-positioned to meet its debt responsibilities. It is also the fifth-highest investment score rating at Moody's.

    The rating agency also promoted to "A1" the ratings of the senior unsecured USD3 billion trust license issuance plan of Senaat Sukuk Limited and the senior unsecured debt issued under the plan.

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