State-run Dubai World and Qatar Telecommunications (Qtel) plan to seek credit ratings, the companies said, in a move that could help lower their borrowing costs as they expand.
Dubai World, the holding company for firms including ports operator DP World, property developer Nakheel and investment agency Istithmar, is "in the rating process", Maryam Sharaf, group chief financial officer of Dubai World, told Reuters on Tuesday on the sidelines of a meeting with bankers in Dubai.
Qtel plans to have a credit rating by the end of next year, the company said in a prospectus for a $2.5 billion, 5-year loan that it is seeking to raise.
Reuters obtained the prospectus in a Qtel meeting with prospective investors in Dubai on Tuesday. Source
Dubai World, the holding company for firms including ports operator DP World, property developer Nakheel and investment agency Istithmar, is "in the rating process", Maryam Sharaf, group chief financial officer of Dubai World, told Reuters on Tuesday on the sidelines of a meeting with bankers in Dubai.
Qtel plans to have a credit rating by the end of next year, the company said in a prospectus for a $2.5 billion, 5-year loan that it is seeking to raise.
Reuters obtained the prospectus in a Qtel meeting with prospective investors in Dubai on Tuesday. Source
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