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UAE: MOODY'S ASSIGNS A3 RATING TO ALDAR PROPERTIES PJSC.

Publication: IPR Strategic Business Information Database
Publication Date: 17-APR-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Moody's Investors Service has assigned long term local and foreign currency issuer ratings of A3 to Aldar Properties PJSC (Aldar), the leading property developer in the Emirate of Abu Dhabi. The outlook is stable. This is the first time that Moody's has assigned ratings to Aldar. "Aldar's ratings benefit from its leading market position in Abu Dhabi and from the strategic role Aldar plays and the public policy mandate it has in developing key residential, commercial and leisure projects in this fast growing Emirate", says Martin Kohlhase, Dubai/DIFC based Assistant Vice President and lead analyst for Aldar. "At the same time, the...

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