Moody’s upgrades Arab Petroluem Investments

Moody’s Investors Service said it upgraded Arab Petroleum Investments Corp.’s long-term issuer and senior unsecured rating to Aa2 and changed the outlook to stable from positive.

“The key drivers for the upgrade include the steady improvement that the corporation, the multilateral development bank owned by the member states of the Organization of Arab Petroleum Exporting Countries, has made in its liquidity and funding profile by diversifying its funding sources,” said Moody’s in a press release.

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