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Mubadala plans to diversify funding resources
February 4, 2010
Abu Dhabi government investment firm Mubadala Development Co. said Tuesday it set up a Euro Commercial Paper, or ECP, program as part of efforts to diversify its funding sources.
The notes, which are guaranteed by Mubadala and will be governed by English law, carry 'Prime-1', 'A-1+' and 'F1+' ratings by Moody's Investor Service, Standard & Poor's and Fitch Ratings respectively, the company said in an emailed statement. The ratings are in line with the agencies' short-term issuer ratings for Mubadala.
Mubadala, which is a strategic government company driving the emirate's economic diversification plan, didn't give a size for the ECP program. Moody's said Mubadala "is likely to commence moderate issuance under the program, which will be fully supported by matching dedicated liquidity at all times."
Original Posting At: Maktoob
The notes, which are guaranteed by Mubadala and will be governed by English law, carry 'Prime-1', 'A-1+' and 'F1+' ratings by Moody's Investor Service, Standard & Poor's and Fitch Ratings respectively, the company said in an emailed statement. The ratings are in line with the agencies' short-term issuer ratings for Mubadala.
Mubadala, which is a strategic government company driving the emirate's economic diversification plan, didn't give a size for the ECP program. Moody's said Mubadala "is likely to commence moderate issuance under the program, which will be fully supported by matching dedicated liquidity at all times."
Original Posting At: Maktoob
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