Summary: Tourism Development and Investment Co. P.J.S.C. - S&P Credit Research

Summary: Tourism Development and Investment Co. P.J.S.C.

1664 words — Published Jul 26, 2012
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Abstract:
Standard&Poor's Ratings Services rates Abu Dhabi-based Tourism Development and Investment Co. P.J.S.C. (TDIC) according to its enhanced criteria on government-related entities (GREs). Although the government does not formally guarantee TDIC's liabilities, we equalize the ratings on TDIC with those on the Emirate of Abu Dhabi (AA/Stable/A-1+). We base this assessment on what we believe to be TDIC's "critical" role for Abu Dhabi's official long-term development strategy and our view of the company's "integral" link with the government. Accordingly, we consider extraordinary government support in times of financial stress to be "almost certain." The government has sole ownership of the company through the Abu Dhabi Tourism and Culture Authority (TCA Abu Dhabi), and the chairman of TDIC's board, also
  
Brief Excerpt:
RESEARCH Ratings Definitions PDF Summary: Tourism Development and Investment Co. P.J.S.C. Publication date: 26-Jul-2012 Primary Credit Analyst: Dima B Jardaneh, Dubai (971) 4-372-7154; Dima_Jardaneh@standardandpoors.com Secondary...
  
Report Type:
Summary
Issuer
Tourism Development and Investment Co. P.J.S.C.
Sector
Global Issuers
Country
United Arab Emirates
Region
Europe, Middle East, Africa
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Credit Research. "Summary: Tourism Development and Investment Co. P.J.S.C." Jul 26, 2012. Alacra Store. May 20, 2013. <http://www.alacrastore.com/research/s-and-p-credit-research-Summary_Tourism_Development_and_Investment_Co_P_J_S_C-993708>
  
APA:
S&P Credit Research. (). Summary: Tourism Development and Investment Co. P.J.S.C. Jul 26, 2012. New York, NY: Alacra Store. Retrieved May 20, 2013 from <http://www.alacrastore.com/research/s-and-p-credit-research-Summary_Tourism_Development_and_Investment_Co_P_J_S_C-993708>
  
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