Fitch Ratings-Hong Kong/London-26 April 2016: Fitch Ratings has assigned Abu Dhabi's senior unsecured bonds issued under the sovereign's global medium-term note programme 'AA' ratings. The issues are as follows:
USD2.5bn 2.125% bonds maturing 3 May 2021
USD2.5bn 3.125% bonds maturing 3 May 2026
Abu Dhabi intends to use the proceeds for general budgetary purposes.
KEY RATING DRIVERS
The ratings are in line with Abu Dhabi's existing senior unsecured ratings and Long-term foreign-currency Issuer Default Rating (IDR), which was affirmed at 'AA' with a Stable Outlook in February 2016.
RATING SENSITIVITIES
The ratings of the bonds are sensitive to changes in Abu Dhabi's Long-Term foreign-currency IDR.
Contact:
Primary Analyst
Krisjanis Krustins
Associate Director
+852 2263 9831
Fitch (Hong Kong) Limited
19/F Man Yee Building
68 Des Voeux Road Central
Hong Kong
Secondary Analyst
Paul Gamble
Senior Director
+44 203 530 1623
Committee Chairperson
Jan Friederich
Senior Director
+852 2263 9910
Media Relations: Peter Fitzpatrick, London, Tel: +44 20 3530 1103, Email: peter.fitzpatrick@fitchratings.com; Leslie Tan, Singapore, Tel: +65 67 96 7234, Email: leslie.tan@fitchratings.com.
Date of Relevant Rating Committee: 1 February 2016
Additional information is available on www.fitchratings.com
© Press Release 2016