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

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

1661 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 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 Contact: Tommy J Trask,...

  
Report Type:

Summary

Issuer
GICS
Hotels, Resorts & Cruise Lines (25301020)
Sector
Global Issuers
Country
Region
Europe, Middle East, Africa
Format:
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MLA:
S&P Credit Research. "Summary: Tourism Development and Investment Co. P.J.S.C." Jul 26, 2012. Alacra Store. Dec 22, 2014. <http://www.alacrastore.com/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 Dec 22, 2014 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Tourism-Development-and-Investment-Co-P-J-S-C-993708>
  
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