- Moody’s Rating Reflects AD Ports Group’s Strong Financial Performance.
- Strategic Importance of Khalifa Port and KEZAD Recognized in Credit Rating.
- AD Ports Group Achieves First Moody’s Rating, Following Fitch and S&P Ratings.
AD Ports Group (ADPORTS: ADX), the leading provider of trade, transport, and logistics solutions, today announced its first A1 credit rating with a stable outlook by Moody’s Ratings. The move underlines the group’s robust financial performance and growth prospects, reports AD Ports Group.
Assessment of AD Ports Group by Moody’s
The A1 long-term issuer rating by AD Ports Group is based on the Baseline Credit Assessment (BCA) of Baa2 and has majority ownership by the Government of Abu Dhabi through ADQ. The rating specifically brings out the flagship nature of the Group’s business assets, such as Khalifa Port and KEZAD, strategic importance to economic diversification in Abu Dhabi, as well as a resilient business model supported by prudent financial policies.
Recognition of Strategic Value and Assets
Moody’s rating assignment recognizes AD Ports Group’s role in Abu Dhabi’s economic diversification strategy, its growing portfolio of infrastructure assets, and its operational excellence. The Group’s commitment to sustainable and profitable growth further solidified its investment-grade rating.
Previous Credit Ratings
This is the first Moody’s rating for AD Ports Group, which already holds investment-grade credit ratings from Fitch and S&P Global.
Statement from AD Ports Group CFO
Martin Aarup, Group Chief Financial Officer of AD Ports Group, stated:
“We are pleased to receive this credit rating from Moody’s. It is a clear recognition of our unwavering dedication to financial discipline, operational excellence, and long-term sustainable growth. This rating milestone not only enhances our reputation in the market but also positions us for continued success and greater access to capital.”
Meaning of A1 Rating
The A1 rating is the fifth best rating on Moody’s 21-notch global scale, meaning an upper-medium investment grade with low credit risk.
Record Financial Performance in Q3 2024
On 12 November 2024, AD Ports Group posted record revenue and profit in Q3 2024 with AED 4.66 billion (USD 1.27 billion) in revenue and AED 445 million (USD 121.3 million) in profit. This result is the effect of increased growth in the core businesses of the Group.
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Source: AD Ports Group
