|By Arabian Post Staff| Fitch Ratings has upgraded DP World Limited’s Long-Term Issuer Default Rating (IDR) to BBB from BBB- and its Short-Term IDR to F2 from F3. The rating outlook is stable.
The upgrade follows the Fitch announcement in November 2015 revising DP World’s outlook to Positive from Stable. It reflects the global trade enabler’s strong performance and stable cash flow generation supported by its geographical diversification, high utilisation rate of terminals and the long-term maturity of its main flagship operation in Jebel Ali, Dubai, UAE.
DP World’s current ratings for all three entities DP World Limited, DP World Sukuk Limited, and DP World Crescent Limited are Baa3 for Moody’s and BBB for Fitch.
