NEW YORK: Moody’s Corporation has established new environmental sustainability commitments and progress milestones, including plans for expanding its carbon neutrality and procuring 100% renewable electricity, as well as target goals for reducing its greenhouse gas (GHG) emissions. “Contributing to an environmentally sustainable global future is a key business objective for Moody’s,” said Mark Kaye, Chief…
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Fitch Ratings affirms PhosAgro’s investment grade credit rating of BBB-/Stable
MOSCOW: PhosAgro, one of the world’s leading vertically-integrated phosphate-based fertilizer producers, announced that Fitch Ratings has affirmed its Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at BBB- with a Stable outlook. In its announcement, Fitch Ratings noted the sustainability of PhosAgro’s business and its competitive advantages, including low cash cost of production and its…
Moody’s assigns an A2 IFS Rating to Oman Insurance
DUBAI: Moody’s Investor Services has assigned an A2 Insurance Financial Strength (IFS) rating to Oman Insurance Company citing its outlook as ‘Stable’. Moody’s, alongside S&P, is the largest credit rating agency worldwide. According to Moody’s, this rating reflects Oman Insurance Company’s strong market position and franchise in the Middle East region, well diversified business profile…
First Abu Dhabi Bank intends to acquire Bank Audi Egypt
ABU DHABI: First Abu Dhabi Bank (FAB) has entered into exclusive discussions with Bank Audi to acquire its fully owned subsidiary in Egypt, Bank Audi Egypt. A working group has been formed to assess the potential acquisition. At the current time, no valuations have been announced and there is no certainty that these discussions will…