Moody’s rates Arab Petroleum notes Aa3

Moody's Investors Service said it assigned a provisional Aa3 senior unsecured debt rating to Arab Petroleum Investments Corp.’s proposed dollar-denominated floating-rate notes to be listed at Taipei Exchange.

According to the preliminary prospectus, the notes are direct, unconditional and unsecured obligations of Arab Petroleum, and rank and will rank pari passu with all other outstanding unsecured and unsubordinated obligations of Arab Petroleum.

Therefore, Moody’s said the provisional Aa3 senior unsecured debt rating mirrors Arab Petroleum’s long-term issuer rating of Aa3 with stable outlook.

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