Burjeel Holdings, a leading super-specialty healthcare services provider in the GCC listed on the Abu Dhabi Securities Exchange, today (June 23) announced that it has received first-time corporate credit ratings from S&P Global Ratings and Moodyâs Ratings, alongside the establishment of a $1.5 billion Senior Unsecured Sukuk Programme.
The assignment of ratings marks an important milestone for Burjeel Holdings and reflects the Groupâs robust business profile, disciplined financial policy, strong corporate governance and continued commitment to transparency, said a statement from Burjeel Holdings.
The Sukuk Programme has been established through Burjeel Sukuk Limited, a special purpose vehicle established for this purpose, and is admitted to the London Stock Exchangeâs International Securities Market.
The programme provides Burjeel Holdings with a flexible shariah-compliant platform to access debt capital markets, supporting the groupâs strategy to diversify funding sources, strengthen its long-term capital structure and pursue strategic investments in advanced clinical care, research, medical education, digital transformation and AI-enabled healthcare innovation.
S&P Global Ratings has assigned Burjeel Holdings a âBB+â issuer credit rating with a Stable outlook, while Moodyâs Ratings has assigned Burjeel Holdings a Ba2 corporate family rating with a Stable outlook, said the statement.
These rating reflects Burjeelâs strong market position in Abu Dhabi, its expanding presence across the UAE, Saudi Arabia and Oman, good profitability across the Burjeel Hospital brand, the growing contribution from its complex care and super-specialty division, as well as solid credit metrics and an improving liquidity profile, it added.
Burjeel Holdings continues to benefit from favourable long-term healthcare fundamentals in the UAE and the wider GCC, including demographic growth, mandatory health insurance coverage, increasing demand for specialised care, and the regionâs continued development as a medical tourism hub.
On the sukuk launch, Chairman and CEO Dr Shamsheer Vayalil said: "Receiving first-time ratings from two of the worldâs leading credit rating agencies is an important milestone for Burjeel Holdings and reflects the strength of our platform, our disciplined financial policy, strong corporate governance and the resilience of our operating model."
"The establishment of our Sukuk Programme further enhances our financial flexibility and supports our strategy to diversify funding sources while maintaining financial discipline, creating long-term value, and supporting the UAE's ambition to become a global centre for healthcare excellence and innovation," he added.
Send us your companyâs news today and they could be featured on ABCâs Community News tommorow.
