https://arab.news/4kdqq
RIYADH: Global rating agency Moody鈥檚 has upgraded Dubai-based DP World鈥檚 ratings following major investments in the firm鈥檚 flagship UAE assets 鈥� the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park.
The Emirati logistics company received a total of $7.4 billion from two international funds 鈥� Canadian investment fund CDPQ in May and 抖阴短视频n pension fund Hassana in December 鈥� through the sale of a 32.2 percent stake in the assets in 2022.
According to Moody鈥檚, DP World鈥檚 diversified global port operations in strategic, fast-growing emerging market locations, solid profitability, and long-term growth potential led to the improved rating.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: 鈥淥ur improved rating by Moody鈥檚 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.鈥�
He added the company has embarked on a strategic transformation journey that will enable it to better achieve its vision of creating end-to-end integrated global supply chain solutions from the factory floor to the customer鈥檚 door.
This upgrade comes as DP World focuses on a long-term growth plan to enhance the company鈥檚 assets and capture the significant growth potential of the wider market.