AD Ports Group, an enabler of integrated trade, transport and logistics solutions, announced today that it has received an initial A1 credit rating with a stable outlook from Moody’s Ratings (Moody’s), the international credit ratings agency, according to the company's release.
AD Ports Group’s A1 long-term issuer rating reflects the company’s Baseline Credit Assessment (BCA) of Baa2 and the Government of Abu Dhabi majority ownership through ADQ.
The new Moody’s rating assignment is a recognition of AD Ports Group's flagship assets in Abu Dhabi, Khalifa Port and KEZAD, strategic importance to the economic diversification strategy of the emirate of Abu Dhabi, growing infrastructure assets and business, resilient business model, as well as its commitment to prudent financial policies. It is the first time that AD Ports Group has been assigned a credit rating by Moody’s. The Group has already received investment-grade credit ratings from ratings agencies Fitch and S&P Global.
The A1 rating is the fifth-highest rating on Moody’s 21-notch global ratings scale, which ranges from Aaa to C. The A1 rating signifies upper-medium investment grade and low credit risk. On 12 November, AD Ports Group reported record levels of revenue and profit in Q3 2024 of AED 4.66 billion (USD 1.27 billion) and AED 445 million (USD 121.3 million), respectively, driven by strong growth across its core businesses.