S&P says that Mubadala and IPIC to maintain AA rating after merger
The credit ratings agency Standard and Poor’s said that it will keep the high ratings for Abu Dhabi-owned investment groups Mubadala Development Company and International Petroleum Investment Company (Ipic), following their USD125bn merger plan. The ratings agency said the funds’ “AA" long-term and “A-1+" short-term issuer credit ratings will remain because it is almost certain the government would provide financial assistance if they found themselves in distress. AA is S&P’s second-highest long-term investment grade after AAA. (The National)
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