- 19 Dec 2010
TAQA receives A rating from Standard & Poor’s
Abu Dhabi, UAE – The Abu Dhabi National Energy Company PJSC (TAQA), a publicly listed company on the Abu Dhabi Securities Exchange (ADX: TAQA), today announced that it has been confirmed as receiving an A rating from Standard & Poor’s. The A rating follows an extensive review of TAQA’s strategy and business plan as well as the expected level of government support from the Emirate of Abu Dhabi. TAQA is also rated A3 by Moody’s Investor Service.Commenting on the news, Doug Fraser, Chief Financial Officer of TAQA, said:“We are pleased to announce that we have reactivated our relationship with Standard & Poor’s. Our strong credit story has been reaffirmed by the A rating awarded today.- ENDS -Contact Information for Media: Allan Virtanen
TAQA Media Relations, Abu Dhabi
Tel +971 2 691 4894; Mob +971 56 685 2717
Allan.Virtanen@taqaglobal.comTAQA Investor RelationsMohammed MubaideenInvestor Relations Manager
+971 2 691 4964
firstname.lastname@example.orgNOTES TO EDITORSAbout TAQATAQA is a global energy company majority owned by the Abu Dhabi Government and listed on the Abu Dhabi Securities Exchange.Our activities include oil and gas, power generation and water desalination across five continents. With operations in the UK, the Netherlands and North America, our oil and gas business includes exploration and production, storage and pipelines. We produce over 137,000 barrels of oil equivalent per day in the North Sea and North America, as well as operating and developing extensive gas storage facilities in the Netherlands.Our power plants are located in the United Arab Emirates, Morocco, Saudi Arabia, Ghana, India, the Caribbean and the United States. TAQA is the majority owner in the facilities that provide 98% of the water and electricity requirements in the Emirate of Abu Dhabi.Established in 2005, our entrepreneurial culture has laid the foundations for long-term sustainable growth building on our commitment to people, safety and the environment.