trending Market Intelligence /marketintelligence/en/news-insights/trending/IaVxiOrLrXia3ONfHdZWDQ2 content esgSubNav
In This List

Fitch assigns 1st-time rating to Azizi Developments

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Fitch assigns 1st-time rating to Azizi Developments

Fitch Ratings assigned Azizi Developments LLC a first-time BB- long-term issuer default rating, with a stable outlook.

The rating is based on the real estate developer's sustainable business model, which is focused on the Dubai residential market's affordable segment that enables it to reach a broader customer base, including end-user residents and investors.

Fitch also noted the Dubai-based company's improving operating profitability and favorable cash flow generation, thanks to its pre-sales model with an up-front and staged payment profile.

The company, however, operates in an oversupplied market and faces uncertain market and regulatory conditions, while having ample project concentration and high exposure to a single master developer in the United Arab Emirates, according to Fitch.