Moody’s revises outlook for Dubai’s utility to stable

dubai, ratings, electricity, water, operating,
UAE

Moody’s revises outlook for Dubai’s utility to stable

RIYADH: Ratings firm Moody’s on Wednesday affirmed the Baa2 ratings of state-owned Dubai Electricity & Water Authority and revised its outlook to stable from negative. “The rating action reflects the credit linkages between DEWA and the government of Dubai. Supportive oil prices and improved prospects for a sustained economic recovery will strengthen the operating environment in Dubai, bolster the emirate’s government finances and limit downside risks to DEWA’s credit profile,” Moody’s said. The ratings agency expects the company’s operating performance to rebound in 2021, as a result of increased electricity and water consumption as well as the end of the 10 percent blanket discount on all electricity bills which lasted for three months in 2020 and was not reintroduced in 2021.

Tech Talk: Facebook to change rules on attacking public figures – Gulf Digital News

‘Profound experience’: Star Trek’s Shatner becomes world’s oldest space traveler

U.S. Wants Offshore Wind Farms Off Coasts, in Gulf of Mexico by 2030

Saudi weighing on plans to build free zones to lure foreign investors