Emaar Properties (Emaar) has announced that Moody's has assigned the company a Baa3 long-term issuer rating. Concurrently, Moody's has also upgraded the rating of: i) Emaar’s senior unsecured USD2bn trust certificate programme, established under Emaar Sukuk Limited to (P)Baa3 from (P)Ba1 and ii) Emaar Sukuk Limited's two USD500mn senior unsecured sukuk, issued under the programme to Baa3 from Ba1. The outlook on all ratings is stable. This represents a migration from non-investment grade to investment grade to Emaar. Moody’s attributed the upgrade to Emaar’s “strong credit metrics and business resilience at a time, when the macroeconomic environment remains weak." This is in addition to its “market leadership position and balance sheet strength -- in combination with stable recurring revenues and a sizeable property sales backlog.” (Company disclosure)