Talaat Moustafa Group Holding is pleased to announce that its wholly owned subsidiary, the Arab Company for Projects and Urban Development — the Group’s main operational arm locally and regionally — has successfully upgraded its local creditworthiness rating from A+ to AA- and its Outlook from Positive to Stable, according to the latest update issued by Meris Middle East Credit Rating and Investor Services, the leading credit rating agency in the Middle East and North Africa region.
This rating reflects several positive operational developments witnessed by the Arab Company for Projects and Urban Development, including strong sales both locally and regionally, a substantial backlog of contracted yet undelivered sales, the creation of additional foreign currency revenue streams, as well as the successful entry into the North Coast market through the “South Med” project. All these factors have contributed to strengthening the company’s liquidity position and supporting its growing foreign currency cash flows.
The superb credit rating and outlook serve as further evidence of the Group’s strong financial position and its future prospects, supported by the prudent strategy of its management team and its ability to accurately identify and seize growth opportunities, both locally and regionally.