{"id":56538,"date":"2023-07-18T16:20:46","date_gmt":"2023-07-18T12:20:46","guid":{"rendered":"https:\/\/blog.dubaicityguide.com\/site\/?p=56538"},"modified":"2023-07-18T16:20:46","modified_gmt":"2023-07-18T12:20:46","slug":"fitch-ratings-moodys-investors-service-and-sp-global-upgrade-emaar-properties-pjscs-credit-ratings","status":"publish","type":"post","link":"https:\/\/blog.dubaicityguide.com\/site\/fitch-ratings-moodys-investors-service-and-sp-global-upgrade-emaar-properties-pjscs-credit-ratings\/","title":{"rendered":"Fitch Ratings, Moody’s Investors Service, And S&P Global Upgrade Emaar Properties PJSC’s Credit Ratings"},"content":{"rendered":"

Emaar<\/strong>\u00a0Properties PJSC, Dubai’s premier real-estate developer, received credit rating upgrades from Fitch Ratings, Moody’s, and S&P Global, reflecting its strong financial performance and improved leverage ratios.<\/p>\n

Fitch Ratings has upgraded Emaar Properties Long-Term Issuer Default Rating to ‘BBB<\/strong>‘ from ‘BBB-<\/strong>‘, with a Stable Outlook. Moody’s has similarly upgraded Emaar Properties PJSC’s long-term issuer rating to Baa2 from Baa3 with a Stable Outlook.<\/p>\n

S&P Global has also upgraded Emaar Properties ‘BBB<\/strong>‘ from ‘BBB-<\/strong>‘; the rating comes with a Stable Outlook, signalling confidence in Emaar’s financial stability and prospects.<\/p>\n

The robust Q1 2023 results clearly echo these ratings upgrades.<\/p>\n

Emaar reported group property sales of AED 9.2 billion ($2.5 billion) in the first quarter, marking an 11% increase compared to Q1 2022. Emaar’s property sales backlog further rose to AED 55.7 billion (US$ 15.2 billion), providing healthy revenue pipeline. An additional highlight was the 11% rise in recurring revenue in Q1 2023, buoyed by increased tenant sales and a resurgence in tourism activity.<\/p>\n

The stellar Q1 2023 performance resulted in a 26% increase in EBITDA and a 43% rise in net profit compared to Q1 2022 showcasing the company’s operational excellence and successful property sales performance.<\/p>\n

Adding to the highlights of the quarter, Emaar also declared and paid dividends of AED 2.2 billion, demonstrating its commitment to delivering shareholder value.<\/p>\n

On the whole, these upgrades and the strong Q1 2023 results underscore Emaar Properties’ robust cash flow, lower leverage, and formidable operational performance across all business segments, indicating a strong outlook for the company’s future.<\/p>\n","protected":false},"excerpt":{"rendered":"

Emaar\u00a0Properties PJSC, Dubai’s premier real-estate developer, received credit rating upgrades from Fitch Ratings, Moody’s, and S&P Global, reflecting its strong financial performance and improved leverage ratios. Fitch Ratings has upgraded Emaar Properties Long-Term Issuer Default Rating to ‘BBB‘ from ‘BBB-‘, with a Stable Outlook. Moody’s has similarly upgraded Emaar Properties PJSC’s long-term issuer rating to […]<\/p>\n","protected":false},"author":1,"featured_media":56539,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-56538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/56538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/comments?post=56538"}],"version-history":[{"count":1,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/56538\/revisions"}],"predecessor-version":[{"id":56540,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/posts\/56538\/revisions\/56540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media\/56539"}],"wp:attachment":[{"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/media?parent=56538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/categories?post=56538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.dubaicityguide.com\/site\/wp-json\/wp\/v2\/tags?post=56538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}