Moody’s Ratings Agency announced that it has upgraded DP World’s ratings, a significant statement of confidence in DP World’s business and future.
The upgrade follows two major investments in 2022 at DP World’s flagship UAE assets -- the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park. The first was from Canadian investment fund, CDPQ in May and then Hassana, a Saudi Arabian pension fund, in December.
These investments raised a total of $7.4 billion from the sale of a 32.2% stake in the assets, showcasing the confidence global investors have in the business.
According to Moody’s, DP World’s diversified global port operations in strategic fast growing emerging market locations, as well as its solid profitability and long-term growth potential is what ultimately led to this improved rating.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World said: “Our improved rating by Moody’s shows the confidence global investors have in our business, our world-leading assets and our strategy to push deeper into the logistics business to capture more value. We have embarked on a strategic transformation journey that will enable us to better achieve our vision of creating end-to-end integrated global supply chain solutions from the factory floor to the customer’s door.”
This upgrade is another important step for DP World towards its long-term growth plans. It will also enhance the company’s assets and capture the significant growth potential of the wider market.
Source: DP World