Moody's Investors Service affirmed the credit rating of Abu Dhabi National Energy Company (TAQA) at (Aa3), as well as the rating of the General Organization for Holding (Senaat) at ( A3).
The agency said in a report seen by (the Namazone website), today, Thursday, that the future outlook for (energy) ratings is still stable, while the future outlook for (energy) ratings is industries) is still negative.
At the same time, Moody's withdrew TAQA's Basic Credit Rating (baa1) and Senaat's Basic Credit Rating (ba1); Because it no longer classifies the two companies as government-related (GRI) exporters.
This comes after (Moody's) assigned the ratings to (TAQA) and (Industries) parent company, Abu Dhabi Development Holding Company (Aa2 - stable).
On June 21, the agency assigned an issuer rating for the first time to (ADH) under the Government-Related Issuer (GRI) methodology.
Abu Dhabi Development Holding owns about 98.6% of TAQA and 100% of Senaat, noting that the first is 100% owned by the rated Abu Dhabi government. Credit rating (Aa2 - stable).
