Moody's changes outlook on DEWA to positive from stable

14 October 2010

Outlook change reflects extension in maturity profile

The outlook for Dubai Electricity and Water Authority (DEWA) has been revised by Moody’s Investors Service to positive from stable. The revised outlook includes DEWA Funding and its guaranteed debt instruments of $1bn notes due in April 2015. The change in outlook to positive reflects the constructive impact of DEWA’s ongoing efforts to extend its debt maturity profile, thereby strengthening its liquidity profile, Moody’s said.

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