Dubai: DP World's solid operational and financial results for first-half 2011 show its operations in emerging markets are generating at least 75 per cent of the group's revenues and will continue underpinning its strengthening credit fundamentals, Moody's Investors Service said yesterday.
It added that despite the greater weight of emerging markets, DP World nevertheless maintained a ‘solid footing in developed markets,' with ports supporting logistics and trade activities in a number of western European locations.
The note also stated that Moody's believed DP World remained ‘well positioned' despite persistent concerns about sovereign debt pressures across Europe and Japan, besides the US government's debt challenges.
"This is because the trade flows of the markets driving DP World's growth — Asia, South America and the Middle East — are somewhat decoupled from the economic pressures and uncertainties facing developed markets economies, which is why these three markets are expected to continue to report positive growth," Moody's said in its note.
