Masdar, a subsidiary of Mubadala Investment Company, received investment grade A2 and A+ ratings from Moody’s Investors Service and Fitch Ratings, respectively, marking the first time the Abu Dhabi renewable energy company is rated by global agencies.
An A2 rating is sixth-highest credit rating of Moody's and indicates low credit risk, as does the A+ rating by Fitch. Masdar is wholly owned by Mamoura Diversified Global Holding.
The ratings are a reflection of Masdar’s “robust portfolio of renewable energy and sustainable real estate assets and its crucial role in the diversification of the Abu Dhabi economy”, Musabbeh Al Kaabi, chief executive of the UAE Investments at Mubadala, said.
First-time credit ratings will give Masdar greater flexibility in financing and investing in new projects as the company looks to accelerate its global expansion.
“Masdar’s rating benefits from a conservative financial strategy and risk management, which are key governance considerations, including the absence of debt at the holding company level. This is balanced by its reliance on cash flow from associated companies that it does not fully control or that have significant debt of their own,” Moody’s said.
Moody’s expects Mamoura and the Abu Dhabi government to provide further support to Masdar, if required, to maintain Masdar's credit quality.
Masdar aims to strengthen the UAE’s position as one of the world’s leading exponents of green energy. The clean energy company currently operates in more than 30 countries with a total investment of about $20 billion.
Masdar’s diversification across clean energy and real estate along with its "attractive product offering" have also contributed to its ratings, Moody’s said.
The company has received consistent support since its inception in 2007, leading to a low reliance on external debt, despite the extent of the projects it is developing, Fitch said in a separate statement on Monday.
The ratings are a strong endorsement of Masdar’s financial stability and the “creditworthiness of our core business model, and reflect confidence in Masdar’s cash generation ability, unrestricted liquidity, and future growth prospects as an Abu Dhabi-based company”, Mohamed Jameel Al Ramahi, chief executive of Masdar, said.
Meanwhile, Moody's said it provided a stable outlook to Masdar, expecting it will “maintain prudent leverage at its subsidiaries and investments, with no material increase in financial obligations at the holding company level”.
“Masdar’s rating is supported by its long track record as a developer and owner of renewable generation assets, the good geographic position and attractive product offering of Masdar City and its strong portfolio of tenants,” the rating agency said.
There is a global appetite for investment in sustainable real estate projects, Fitch said. “Masdar City should benefit from the government’s explicit commitment to developing it, the existence of a free zone, as well as Abu Dhabi's strategic location between Europe and Asia,” it said.
Masdar's operations are also expected to benefit from the countries' efforts to decarbonise.
“The growing demand for renewable electricity to achieve national targets and international commitments enables the company to secure subsidies, offtake agreements and financing on commercially attractive terms,” Moody's said.
Masdar plans to double its renewable energy capacity in the next five years from current levels, with a sizeable part of its growth to come from South-East and Central Asia.
The Abu Dhabi company is looking to develop new projects in Malaysia, Vietnam, Indonesia and Taiwan, and is bullish on new opportunities in Uzbekistan, Kazakhstan, Azerbaijan and Armenia.
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
Stands taller than the leaning tower of Pisa
Steel trellis dome is one of the largest single structures on site
The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
World’s largest 360-degree projection surface
UAE currency: the story behind the money in your pockets
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
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MATCH INFO
Day 2 at the Gabba
Australia 312-1
Warner 151 not out, Burns 97, Labuschagne 55 not out
Pakistan 240
Shafiq 76, Starc 4-52
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
UAE currency: the story behind the money in your pockets
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Name: Colm McLoughlin
Country: Galway, Ireland
Job: Executive vice chairman and chief executive of Dubai Duty Free
Favourite golf course: Dubai Creek Golf and Yacht Club
Favourite part of Dubai: Palm Jumeirah
Newcastle United 0 Tottenham Hotspur 2
Tottenham (Alli 61'), Davies (70')
Red card Jonjo Shelvey (Newcastle)
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
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Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
'Unrivaled: Why America Will Remain the World’s Sole Superpower'
Michael Beckley, Cornell Press
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
