TMG Holding obtains a credit rating upgrade for its largest subsidiary, the Arab Company. The rating rises from A+ to AA-. The Outlook changes from Positive to Stable.
Talaat Moustafa Group Holding is pleased to announce that its wholly owned subsidiary, the Arab Company for Projects and Urban Development, has successfully upgraded its local creditworthiness rating from A+ to AA-. Moreover, its Outlook improved from Positive to Stable. This update was issued by Meris Middle East Credit Rating and Investor Services, the leading credit rating agency in the MENA region.
This new rating reflects several positive operational developments for the Arab Company. These include strong sales locally and regionally, a substantial backlog of contracted but undelivered sales, and the creation of additional foreign currency revenue streams. Furthermore, the company successfully entered the North Coast market through the “South Med” project. Therefore, these factors have strengthened the company’s liquidity and supported its growing foreign currency cash flows.
The superb credit rating and stable outlook provide clear evidence of the Group’s solid financial position. In addition, they highlight strong future prospects supported by a prudent management strategy. Finally, the Group continues to demonstrate its ability to identify and seize growth opportunities across Egypt and the wider region.
