These notes are issued under Dubai Holding Commercial Operations MTN Limited's USD8bn debt issuance programme that is unconditionally and irrevocably guaranteed by Dubai Holding Commercial Operations Group LLC (DHCOG).
The programme is rated 'AA-' (AA minus).
However, it should be noted that the programme size was revised in June to $8bn from $5bn.
DHCOG is effectively 100%-owned by Dubai Holding LLC, which in turn is 97.4%-owned by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and ruler of Dubai, 2.5% by MRSA Investment LLC which is owned by the group's executive chairman who is also a UAE cabinet minister, and 0.1% by His Highness Sheikh Rashid Bin Mohammed Al Maktoum.
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Fitch rates Dubai Holding Commercial Operations MTN Limited's Notes 'AA-'
- United Arab Emirates: Tuesday, July 08 - 2008 at 11:18
- PRESS RELEASE
Fitch Ratings has assigned Dubai Holding Commercial Operations MTN Limited's CHF250m 5.25% notes due 14 July 2011 and JPY10bn floating-rate notes due 3 July 2013 (listed below) 'AA-' (AA minus) ratings.
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Contact: Bashar Al Natoor, Dubai, Tel: +971 4 408 1809; Trevor Pitman, London, +44 20 7417 4280.Media Relations: Peter Fitzpatrick, London, Tel: + 44 (0)20 7417 4364.
Posted by Eman HassanTuesday, July 08 - 2008 at 11:18 UAE local time (GMT+4)
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