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  • 11-01-22

    Moody’s gives Baa1 rating to Noor Abu Dhabi solar photovoltaic scheme

    (MENAFN) Moody’s Investors Service confirmed a Baa1 rating to the almost USD728 million set rate, senior protected, paid back bonds published by the operator of the 881-megawatt Noor Abu Dhabi solar photovoltaic scheme, referring to the significance of the scheme to government policy.

    According to Moody’s, the rating also demonstrates the confirmed solar PV technology in employment and economies of scale with no danger of constructing.

    A Baa1 rating is the eighth-highest credit rating given by Moody’s and shows only an adequate credit danger.

    According to Christopher Bredholt, vice president, senior credit officer at Moody’s and lead analyst for the issuer statement, “the Noor Abu Dhabi refinancing marks an important milestone in the financing of renewable energy in the Emirates and broader region.”

    MENAFN11012022000045013568ID1103519084

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