Tue 22-06-2021 16:18 PM
ABU DHABI, 22nd June, 2021 (WAM) -- ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has been assigned long-term issuer credit ratings of Aa2 (Stable) and AA (Stable) from leading global credit ratings agencies, Moody’s and Fitch, respectively.
The credit ratings, which are on par with the Abu Dhabi government’s credit ratings, validate ADQ’s solid financial position and valued role as a strategic partner of the Abu Dhabi government to deliver continued prosperity for the Emirate and the nation. The assigned credit ratings provide enhanced visibility and confidence over ADQ’s creditworthiness to strategic partners, financial institutions and investors.
Mohamed Hassan Alsuwaidi, Chief Executive Officer of ADQ, said: "ADQ’s very strong credit ratings are consistent with the Abu Dhabi government’s solid financial standing. The ratings are a reflection of ADQ’s robust portfolio and important role in the diversification of the Abu Dhabi economy. As a new engine of growth for Abu Dhabi’s economic diversity and prosperity, we are well positioned to grow our clusters and manage our portfolio of assets."
Marcos de Quadros, Chief Financial Officer of ADQ, said: "From the outset, ADQ has consistently applied rigorous portfolio management principles and a disciplined approach to capital deployment to deliver on our mandate to create value for our strategic partner and shareholder, the Abu Dhabi Government. The very strong credit ratings are a testament of our progress and will provide ADQ with new opportunities to further diversify and optimise our capital structure."