Etihad Credit Insurance (ECI), the UAE Federal export credit company, has been assigned ‘AA-’ (Very Strong) ratings for the fourth consecutive year by Fitch Ratings, reflecting ECI’s role in supporting
DUBAI, 22nd November, 2022 (WAM) Etihad Credit Insurance (ECI), the UAE Federal export credit company, has been assigned 'AA-' (Very Strong) ratings for the fourth consecutive year by Fitch Ratings, reflecting ECI’s role in supporting the diversification of the UAE economy.ECI’s Insurer Financial Strength (IFS) Rating and Long-Term Issuer Default Rating (IDR) were both affirmed at 'AA-' (Very Strong) with Stable Outlooks.The primary driver for these robust ratings is ECI’s strategic governmental function in the promotion of UAE's non-oil exports and strategic sectors' development.
• As of September 2022, ECI insured AED 16.6 billion non-oil trade to businesses exporting to 11 countries, continuing to accomplish its mission to support UAE
The Abu Dhabi Department of Economic Development (ADDED) said it will back the manufacturing sector to boost the Emirate’s non-oil exports from AED73.5 billion ($20 billion) in 2021 to AED178.8 billion ($48.6 billion) by 2031.