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The ratings are as follows:
AED500m floating-rate notes due 6 November 2008: 'AA-' (AA minus)
Issue of AED500m floating-rate notes due 20 November 2008: 'AA-' (AA minus)
These notes have been issued under Dubai Holding Commercial Operations MTN Limited's USD5bn debt issuance programme that is unconditionally and irrevocably guaranteed by Dubai Holding Commercial Operations Group LLC (DHCOG, rated 'AA-' (AA minus)/'F1+'/Outlook Stable).
DHCOG is mainly active in the Dubai real-estate, leisure and tourism sectors. DHCOG is effectively 100%-owned by Dubai Holding LLC, which is itself owned 100% by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and the ruler of Dubai. DHCOG's consolidated financial statements for the financial year ended December 2006 showed total revenue of approximately Dhs5.5bn (approximately $1.5bn).
Fitch rates Dubai Holding Commercial Operations MTN Limited's notes 'AA-'
Fitch Ratings has assigned Dubai Holding Commercial Operations MTN Limited's notes ratings.
- United Arab Emirates: Wednesday, December 05 - 2007 at 08:13
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Contact: Kalai Pillay, Singapore, Tel: +65 6333 5409; Trevor Pitman, London, +44 20 7417 4280.Media Relations: Peter Fitzpatrick, London, Tel: + 44 (0)20 7417 4364; Shivani Sundralingam, Singapore, Tel: + 65 6796 7215.
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Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, December 05 - 2007 at 08:13 UAE local time (GMT+4)
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Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
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