Moody's Maintains ADNOC Mubarraz Aa2
Moody's has affirmed the credit rating of ADNOC Mubarrao Limited at Aa2 for the long-term, with a stable outlook. This reflects the company's strong financial position and its strategic importance within the ADNOC Group. The company is considered the principal issuer of debt instruments within the ADNOC Group, and its ratings are closely linked to the sovereign rating of the Abu Dhabi government. The oil and gas sector is projected to contribute 38.5% to Abu Dhabi's GDP in 2024. ADNOC Mubarrao holds remaining oil reserves of approximately 22.6 billion barrels and is generating robust cash flows exceeding $30 billion in 2024. It is expected to achieve annual cash flows of up to $31 billion at an oil price of $85 per barrel, supported by high liquidity and the ability to service its debt efficiently, thanks to liquidity management mechanisms linked to ADNOC.
Notice: This Is an AI-Generated Summary
Comments (0)