Fitch: Mubadala unchanged

Fitch Ratings said that Mubadala Development Co. PJSC's (AA/stable) announcement of its ownership of Advanced Technology Investment Co. (not rated) has no impact on its ratings.

The deal has no implications on the implied support of, commitment from and ownership of the government of Abu Dhabi (AA/stable) for Mubadala, which is the main driver of its ratings, Fitch said.

Advanced Technology became a wholly owned business of Mubadala on Jan. 1, the agency said.

A strong relationship exists between the company and the Emirate of Abu Dhabi, Fitch said. As such, Mubadala's rating is aligned with Abu Dhabi's sovereign rating.

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