Moody's affirms DP World

Moody's Investors Service said it affirmed the Ba1 issuer rating of DP World, along with the Ba1 rating for DP World Sukuk Ltd.

The outlook was changed to positive from stable.

The outlook change is in response to the company's solid operating performance year to date, supporting expectations that debt protection measures will continue strengthening in line with the company's recent public commitments to prioritize deleveraging, Moody's said.

The outlook change also considers the improving fundamentals for port operators with increasing volumes of global trade flows, especially in emerging markets, the agency said.

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