Moody's confirms Thor Asset Purchase

Moody's Investors Service said it confirmed the A1 rating on the notes issued by Thor Asset Purchase Co. Ltd. due 2036.

The outlook is stable.

The action reflects a similar action on the ratings of Dubai Electricity and Water Authority, Moody's said, but is driven by the explicit guarantee from the Government of Dubai for Dubai Electricity's obligation to provide liquidity sufficient to repay the notes.

Moody's said it considers the ratings to be directly linked to the creditworthiness of both Dubai Electricity and the Government of Dubai.

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