Tuesday 22, January 2013 by Robin AmlĂ´t

Moody's places Aldar's ratings on review for upgrade

Moody's Investors Service has today placed on review for possible upgrade Aldar's B2 Corporate Family Rating (CFR), B2-PD Probability of Default Rating (PDR), B3 rating for its AED 3.75 billion sukuk (due in 2013 and issued by Sukuk Funding (No. 2) Limited) and B3 rating for its $1.25 billion bond (due in 2014 and issued by Atlantic Finance Limited) following the agreement by the Board of both Aldar Properties PJSC and Sorouh Real Estate PJSC to recommend the merger transaction to the shareholders.

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