" /> " /> " />

DP World closes 0.96% lower at Nasdaq Dubai

27 September 2010

Shares of Dubai Ports (DP) World ended 0.96% lower on Monday, closing at $0.515. In its home market in Dubai DP World is mostly operating at Jebel Ali Free Port in the West of the Sheikhdom. Standard & Poor's Ratings Services said today that it has lowered its long-term issuer credit rating on Dubai-based free zone company Jebel Ali Free Zone FZE (JAFZ) to 'B' from 'B+' and removed it from CreditWatch, where it was placed with negative implications on Nov. 25, 2009. The outlook is negative. On June 30, 2010, JAFZ's total debt adjusted by Standard & Poor's was United Arab Emirates dirham (AED) 7.9 billion. JAFZ's debt is not guaranteed by the Dubai government. "That said, JAFZ, together with Jebel Ali Port and Al Maktoum International Airport, form an integrated trade hub of critical importance to the Dubai economy", S&P analyst Tommy Trask writes. Shares of interior designer Depa Ltd. ended flat at the Nasdaq Dubai, closing at $0.66.

You might also like...

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications