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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Performance

Mubadala ‘AA/A-1+’ ratings affirmed due to key role for Emirate of Abu Dhabi

Posted on 23 December 2009

From Ameinfo.com: Standard and Poor’s Ratings Services said today that it affirmed its ‘AA’ long- and ‘A-1+’ short-term corporate credit ratings on the operating holding company Mubadala Development Co. PJSC (Mubadala) based in Abu Dhabi in the United Arab Emirates (UAE). The outlook is stable.
“The ratings on Mubadala, the Abu Dhabi government’s principle vehicle for diversifying the local economy away from hydrocarbon revenues, are based on an equalization with the ratings of the Emirate of Abu Dhabi (AA/Stable/A-1+),”said Standard & Poor’s credit analyst Farouk Soussa………………………………….Full Article: Source

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