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FINANCIAL NEWS
S&P assigns ‘A’ rating to Abu Dhabi’s Taqa
17 Dec 2010
(MENAFN) Standard & Poor’s Ratings Services (S&P) revealed that according to its standards, Abu Dhabi National Energy Company (Taqa) has earned S&P’s ‘A’ long-term corporate credit rating, Reuters reported.
Moreover, according to S&P, the likelihood of timely and sufficient government support from the Emirate of Abu Dhabi for Taqa, if needed, is extremely high.
However, based on the ratings firm’s view of Taqa’s air business risk profile and highly leveraged financial profile,’ it has assessed the Abu Dhabi-based company’s stand-alone credit profile (SACP) at ‘B’+.
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