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Moody s affirms Aldar Properties Baa2 rating; stable outlook reporters@khaleejtimes.com Filed on June 9, 2021 Moody s believes that income generating assets are of good quality which will help the company attract and retain customers Moody s has affirmed Aldar Properties’ Baa2 issuer ratings, with the rating outlook remaining ‘stable’, driven by strong property development revenue with unit handovers and inventory sales, illustrating its market leadership position in Abu Dhabi and a resilient buyer profile. Despite the coronavirus outbreak, Aldar reported solid credit metrics in 2020. As of December 31, 2020, Aldar had an adjusted gross debt to EBITDA of 3.6x and an adjusted fixed charge coverage ratio of 8.0x. Both ratios are well within Moody s guidance for a Baa2 rating. Net operating income from recurring revenue was only down seven per cent mainly due to the impact of closure in retail and hospitality assets in Q1 and Q2 2020. However, in Q1 2021, net o

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