Moody's: No change for DP World

Moody's Investors Service said the announced initial public offering of an about 20% stake of Dubai port operator DP World would have no impact on the company's A1 credit ratings and its outlook also remains stable.

The agency said it factored a potential monitory sale of the company into its ratings from day one and with this expected to be about 20%, DP World remains controlled by the government.

The IPO also is likely to contribute to corporate transparency and will subsequently benefit holders of its bonds and DP World Sukuk, the agency said.

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