Moody's Investors Service upgraded its outlook for the Dubai Electricity and Water Authority (DEWA) to positive today, saying the government-owned utility was making progress in addressing debts of about Dh4.4 billion due by next September.
"The change in outlook to positive reflects the constructive impact of DEWA's ongoing efforts to extend its debt maturity profile, thereby strengthening its liquidity profile," Moody's said.
DEWA raised $1 billion from investors in April, and added about $1.1bn of 12-year financing at the end of August.
The company is gearing up to raise additional money in a two-part bond, it was revealed last week. Despite the global economic slowdown, Moody's said DEWA's operating performance "held up reasonably well", with revenues and electricity demand higher in the first half of the year compared to the same period last year.
Its rating of Ba2 "could be upgraded over the medium term provided that DEWA continues to prudently manage its debt maturity profile, especially its upcoming debt maturities," Moody's said.
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
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