DUBAI
Fitch Ratings has upgraded DP World’s rating to BBB+, classified as good credit quality, from BBB, whilst labelling its rating outlook as stable, the company said in a statement on Tuesday.
This follows on Fitch’s rating upgrade in August 2016 from BBB- to BBB and, according to the statement, reflects DP World’s performance and cash flow generation. Fitch also notes the group’s pricing power due to its significant exposure to origin and destination traffic.
A company’s Fitch rating typically indicates its “relative vulnerability to default on financial obligations,” according to CreditRiskMonitor, a financial analysis website.