Dewa's credit rating raised by S&P
- United Arab Emirates: Thursday, November 01 - 2012 at 01:40
Standard & Poor's has raised its credit rating for the Dubai Electricity and Water Authority (Dewa) from BBB- to BBB, Khaleej Times has reported. The upgrade primarily reflects the Dewa's strong performance and abundant liquidity. Dewa has a clear plan to refinance its debt maturities due in 2013, and expects it to provide a stable financial performance, which will maintain stable positive cash flow resulting from its operations, said S&P.
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