Moody's assigns Aa2 rating to Abu Dhabi's $10 bln three-tranche bond

Moody's Investors Service (Moody's) on Tuesday assigned a Aa2 senior unsecured rating to the $10 billion, three tranche bond issued by the Government of Abu Dhabi (Aa2 stable) on September 23, said a statement.

The rating was initiated by Moody's Investors Service and was not requested by the rated entity, the statement noted adding that the notes represent senior unsecured obligations of the government, ranking pari passu with all other outstanding obligations.

“The Aa2 rating is at the same level as the long-term issuer rating of the Government of Abu Dhabi, which is supported by Abu Dhabi's "Very High" economic strength derived from an exceptionally high GDP per capita, very large hydrocarbon reserves, and superior infrastructure,” Moody’s noted.