Fitch withdraws Dewa's ratings

International ratings agency Fitch has withdrawn rating of Dubai Electricity and Water Authority's (Dewa) due to lack of information.

It had awarded Dewa’s 'BBB-' rating with negative outlook.

“The withdrawal is due to a lack of information... Fitch's assessment of Dewa's creditworthiness has historically been a reflection of the agency's view on the creditworthiness of the sovereign, as a result of strong operational, legal and strategic linkages,” a press statement said.

While information flow from Dewa is regular and comprehensive, Fitch has considered it necessary to form a judgement on the view of the Emirate of Dubai to complete the information profile for the issuer, for which levels of information are expected to be insufficient going forward.