Wednesday 16, April 2014 by Robin AmlĂ´t

Moody's upgrades DEWA's ratings to Baa2 from Baa3; stable outlook

Moody's Investors Service has today upgraded to Baa2 from Baa3 the issuer rating of Dubai Electricity and Water Authority (DEWA), the provisional rating of its global medium-term note programme and the ratings of the three senior unsecured notes issued under the programme (due in 2015, 2016 and 2020 and amounting to $3.0 billion in total). Concurrently, Moody's has assigned a stable outlook for all ratings.