Fitch affirms Mubadala, International Petroleum

Fitch Ratings said it affirmed Mubadala Development Co. PJSC and International Petroleum Investment Co. PJSC's long-term issuer default ratings at AA with stable outlooks and International Petroleum Investment’s long-term local currency issuer default rating at AA.

IPIC GMTN Ltd.'s senior unsecured debt was affirmed at AA and the bonds issued by subsidiary MDC GMTN BV under the medium-term note program were affirmed at AA.

Fitch said it classifies the companies as government-related entities of Abu Dhabi (AA/stable/F1+) under its GRE rating criteria and believes that extraordinary support from Abu Dhabi would be forthcoming, in case of need.

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