Standard & Poor's Rating Services said it has assigned its 'A-' long-term and 'A-2' short-term corporate credit ratings with a stable outlook to Aldar Properties PJSC, the largest property developer in Abu Dhabi in terms of land bank.
The ratings reflect the company's strong position in the rapidly growing Abu Dhabi property development market, Aldar's large land bank, close relationship with the government, and growing investment property portfolio, S&P said.
S&P added the ratings reflect its expectation of strong support from the government of the emirate of Abu Dhabi, reflecting its involvement in Aldar and the company's importance to the government's strategy of diversifying the economy. /Forbes/
The ratings reflect the company's strong position in the rapidly growing Abu Dhabi property development market, Aldar's large land bank, close relationship with the government, and growing investment property portfolio, S&P said.
S&P added the ratings reflect its expectation of strong support from the government of the emirate of Abu Dhabi, reflecting its involvement in Aldar and the company's importance to the government's strategy of diversifying the economy. /Forbes/
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