DP World Ltd. (DPW), the Dubai government-controlled ports operator, had its credit ratings raised to investment grade from junk at Moody’s Investors Service, which cited a “rapid recovery” in performance.
The yield on the 6.25 percent 10-year Islamic bond dropped to the lowest on record. The long-term foreign currency and local currency debt ratings, which affect $3.25 billion of borrowings, were lifted one level to Baa3 from Ba1, Moody’s said in an e-mailed statement today. The outlook is stable……………………………………….Full Article: Source