Moody’s Ratings Agency upgrades DP World’s ratings

NEW YORK : Moody’s Ratings Agency has raised DP World’s ratings in a major statement of confidence in the port operator’s business and future.

The upgrade comes on the heels of two large investments in DP World‘s key UAE properties, the Jebel Ali Port, the Jebel Ali Free Zone, and the National Industries Park, in 2022. The first came from CDPQ, a Canadian investment firm, in May, followed by Hassana, a Saudi Arabian pension fund, in December.

These investments raised a total of US$7.4 billion from the sale of a 32.2% stake in the assets.

“Our improved rating by Moody’s 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,” stated Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World.

He also added that DP World has embarked on a strategic transformation process that will enable the company to better achieve its vision of creating end-to-end integrated global supply chain solutions from the factory floor to the customer’s door.

According to Moody’s, DP World’s diverse worldwide port operations in critical fast-growing emerging market locations, as well as its good profitability and long-term development prospects, contributed to this enhanced rating.