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Moody's: Rating Action - Dubai Electricity & Water Authority (12-Sept-12)
 
 
Moody's Analytics
19 Sep 2012 (7 Pages)
 
 
 
 
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Abstract
 

Moody's Investors Service has today upgraded the longterm issuer rating of Dubai Electricity & Water Authority (DEWA) by one notch to Baa3 from Ba1 and converted the company's corporate family rating (CFR) into a long-term issuer rating, in line with the rating agency's practice for corporates with investmentgrade ratings. Concurrently, Moody's has upgraded to Baa3 from Ba1 DEWA Funding Ltd. and its guaranteed debt instruments (USD3.0 billion of notes under its global medium-term note (GMTN) programme). In addition, Moody's has raised DEWA's baseline credit assessment (BCA) to 10 (mapping to baa3) from 12 (mapping to ba2). The outlook on all ratings is stable.

 
 
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