By Ahmed Mukhtar Naqshbandi
ISLAMABAD: The global rating agency Moody’s has upgraded Dubai-based DP World’s ratings in context of the major investments in the firm’s flagship UAE assets, the Jebel Ali Port, the Jebel Ali Free Zone and the National Industries Park.
The UAE-based logistics company received a total of $7.4 billion from two international funds, namely the Canadian investment fund CDPQ in May 2022 and Saudi Arabian pension fund Hassana last December, through the sale of a 32.2 percent stake in the assets in the year 2022.
Moody’s on DP World’s Rating
As reported by Moody, DP World’s diversified global port operations in strategic, solid profitability, fast-growing emerging market locations, and long-term growth potential, leading to the improved rating.
The Group Chairman and CEO of DP World Sultan Ahmed Bin Sulayem said that the improved rating by Moody’s showed the confidence global investors have DP World’s business, the world-leading assets and their strategy to push deeper into the logistics business to capture more attraction and value.
DP World’s achievements
The Group Chairman further said that the company has embarked on a strategic transformation journey that will enable it to further achieve its vision of creating end-to-end unified global supply chain solutions from the floor of the factory to the doors of the customers.
This upgrade happened as DP World focuses on a long-term growth plan to increase the company’s assets and grab the significant growth potential of the wider market.
