Fitch rates Mubadala Development AA

Fitch Ratings said it assigned MDC-GMTN BV's (Mubadala Development Co.)s global medium-term note program an expected senior unsecured AA rating. The company has been established as a special purpose vehicle for the sole purpose of issuing notes under the global medium-term note program. The final rating is contingent on receipt of final documents.

The expected rating is in line with Mubadala Development Co. PJSC's issuer default rating and senior unsecured rating of AA.

The outlook is stable.

The notes will be unconditionally and irrevocably guaranteed by Mubadala. The obligations under the guarantee will be direct, unconditional, unsubordinated and unsecured obligations of Mubadala and will rank equally with all other unsecured obligations, Moody's said.

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