Fitch puts DP World under observation

Fitch Ratings said it placed DP World plc's short-term issuer default rating under criteria observation.

This follows the publication of the agency's revised criteria for assigning short-term ratings.

Fitch said it overhauled the short-term rating criteria, fundamentally changing the focus of the short-term scale.

The new criterion moves away from the short-term rating mirroring the long-term scale and instead places more emphasis on the short-term characteristics of issuer risk profiles, the agency said.

This structural change is expected to contribute to a number of positive actions, Fitch said.

DP World is the fifth-largest container port operator in the world by gross throughput, the agency noted.

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