DP World rating upgraded by Fitch
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Fitch Ratings has upgrad e d DP World ’ s Limited ’ s 1 Long - Term Issuer Default Rating (IDR) to BBB+ from BBB and affirmed Short - Term IDR at F2, the company said in its press release. The rating outlook is stable. This follows on Fitch’s rating upgrade in August 2016 from BBB - to BBB and reflects DP World’s solid performance and stable cash flow generation. Fitch also notes the Group’s flexibility in its expansionary plan to maintain leverage below the threshold of 4.5x, well diversified and resilient portfolio and pricing power due to its significant exposure to origin and destination traffic.