Fitch Affirms Abu Dhabi’s IPIC at ‘AA'; Outlook Stable
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Fitch Ratings:  Fitch Ratings has affirmed Abu Dhabi-based International Petroleum Investment Company PJSC’s (IPIC) Long-term local and foreign currency Issuer Default Ratings (IDR) at ‘AA’ and Short-term foreign currency IDR at ‘F1+’. A full list of rating actions is available at the end of this commentary.

The ratings are aligned with those of IPIC’s parent, the Government of the Emirate of Abu Dhabi (AA/Stable), under Fitch’s parent and subsidiary linkage methodology. This reflects our view that sovereign-owned IPIC is of strategic importance to the government in its role as an investment vehicle for the state, primarily in the domestic and foreign hydrocarbon and petrochemical sectors.

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