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03 Jul 2019, Gergana Bencheva, EMIS Editor

Moody’s assigns “Baa3” rating to Emirates Strategic Investments Company

Credit rating agency Moody's Investors Service has assigned the first-time long-term issuer rating to Abu Dhabi-based private firm Emirates Strategic Investments Company (ESIC) at Baa3, Mubasher reported. The attributed outlook was stable, indicating that credit metrics of ESIC would remain unchanged at current levels.

Moody's Lead Analyst, Lahlou Meksaoui, explained that the group’s Baa3 rating was supported by its strong financial profile. The rating also shows the company's high occupancy rates of its recurring income property portfolio as well as its good liquidity and low leverage.

The credit agency underlined that ESIC's rating would be revised down if the UAE real estate market maintained its week performance and the company liquidity or credit metrics deteriorated, Mubasher added.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: Mubasher

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