Moody’s upgrades DB World’s credit rating

Dubai, January 25: Moody’s Investors Services (Moody’s) announced that it had raised the credit rating of the “DB World” group, which highlights the great confidence in the company’s business and its future growth.

The upgrade of the group’s classification follows two major investments achieved in 2022 in three of the strategic assets of the “DB World” group in the Emirates, which include Jebel Ali Port, Jebel Ali Free Zone, and the National Industries Park. The first investment was with the global investment group “Caisse de Depot e Plassmann du Quebec” (CDBQ) in May, and the second investment was with Hasana Investment Company, the investment manager of the General Organization for Social Insurance in the Kingdom of Saudi Arabia in December.

These two investments achieved a total value of $ 7.4 billion from the sale of a 32.2% stake in the assets of “DB World” in the UAE, which indicates the confidence of global investors in the group’s business.

According to the report issued by Moody’s, the improvement in DB World’s rating is attributable to the group’s diversified global port operations in strategic and fast-growing emerging markets, its strong financial profile, and its long-term growth potential.

Sultan Ahmed Bin Sulayem, Chairman and CEO of the DB World Group, said that the improvement in the credit rating according to the Moody’s report indicates the confidence of global investors in our business and the group’s leading assets globally, and the strategy to promote strong entry into the field of logistics services, what It brings us more value in the markets in which the group operates, pointing to the start of the strategic transformation process in achieving the vision better by providing integrated solutions for global supply chains from the factory floor to the customer’s door.

It is worth noting that the upgrade of the credit rating of the “DB World” group represents another important step in the process of developing the company’s long-term growth plans, and also strengthens its strategic assets and allows it to benefit from the great growth potential in the broader markets globally.