{"data":{"id":"a2d83682-cadf-4287-ae62-2e308bde507f","type":"article","translation_group_id":"a2d83682-c69a-41fb-b491-b2672d6aa97a","language":"en","content_type":"announcement","title":"Moody's affirms Emaar at Baa1 with stable outlook","dek":"Emaar Properties told DFM that Moody's affirmed its long-term issuer rating and Emaar Sukuk Limited's backed senior unsecured ratings at Baa1, outlook stable.","slug":"emaar-moodys-baa1-affirmation-24-sep-2026","published_at":"2026-09-24T05:43:01+00:00","updated_at":"2026-09-24T05:43:01+00:00","primary_category":{"id":"6","type":"category","key":"real-estate","name":"Real Estate","slug":"real-estate","summary":"Developers, REITs, land deals, and property-cycle stories in the UAE and GCC.","seo_title":"Real Estate News | Capital Wire","meta_description":"Developers, REITs, land deals, sales launches, and property-cycle stories across the UAE and broader GCC real estate markets."},"featured_media":{"id":"a2d83662-ac2a-48fb-a6d7-c27ae5100390","type":"media","url":"https:\/\/capital-wire.com\/storage\/media\/99b34c0c04ed19ad268c0c32a6d30d506e6c97eba3173626dfa8732242aec267.webp","mime":"image\/webp","srcset":"https:\/\/capital-wire.com\/storage\/media\/99b34c0c04ed19ad268c0c32a6d30d506e6c97eba3173626dfa8732242aec267-640.webp 640w, https:\/\/capital-wire.com\/storage\/media\/99b34c0c04ed19ad268c0c32a6d30d506e6c97eba3173626dfa8732242aec267.webp 800w","width":800,"height":450,"alt":"Moody's affirms Emaar Properties at Baa1 with stable outlook \u2014 DFM credit rating disclosure 24 Sep 2026","caption":"Emaar Properties Moody's Baa1 affirmation \u2014 DFM 24 September 2026","credit":"DFM disclosure \/ Emaar Properties PJSC \/ Capital Wire","license":"operator-supplied","ai_generated":false},"entities":[{"id":"a2d6a017-e60a-4ed5-9fae-089d5fb48b70","type":"entity","entity_type":"company","collection":"companies","name":"Emaar Properties PJSC","slug":"emaar-properties-pjsc","ticker":"EMAAR","is_primary":true}],"flags":{"breaking":false,"featured":false,"correction":false},"subtitle":null,"executive_summary":null,"key_points":[],"body":[{"type":"paragraph","text":"Emaar Properties PJSC disclosed to the Dubai Financial Market on 24 September 2026 that Moody's Ratings affirmed the company's long-term issuer rating at Baa1, with a stable outlook."},{"type":"paragraph","text":"Moody's also affirmed the backed senior unsecured ratings of Emaar Sukuk Limited at Baa1. Prior ratings and the stable outlook were unchanged, according to the company's credit-rating disclosure form."},{"type":"paragraph","text":"The agency said the affirmation reflects Emaar's resilient credit profile, supported by medium-term development revenue and cash-flow visibility, stable earnings from its recurring-income portfolio, and its credit metrics and liquidity. Moody's cited a revenue backlog of about AED 155 billion, recurring-income EBITDA of approximately AED 8 billion, and a net cash position of about AED 58.5 billion as of December 2025, alongside debt-to-book capitalisation near 11% at year-end 2025."},{"type":"paragraph","text":"Moody's also flagged geopolitical uncertainty in the Middle East and its potential impact on Dubai real-estate demand, concentration of cash flows in Dubai, supply-chain and handover risks, and development and execution risk on the recurring-income portfolio."},{"type":"paragraph","text":"Emaar said the ratings and outlook are unchanged and that it continues to operate with a conservative financial profile. Baa1 is an investment-grade rating on Moody's long-term scale."}],"seo":{"seo_title":"Moody's affirms Emaar Baa1 stable outlook | Capital Wire","meta_description":"DFM disclosure: Moody's affirms Emaar Properties' long-term issuer rating at Baa1 with a stable outlook; Emaar Sukuk Limited backed notes also affirmed.","og_title":"Moody's affirms Emaar Baa1 stable outlook | Capital Wire","og_description":"DFM disclosure: Moody's affirms Emaar Properties' long-term issuer rating at Baa1 with a stable outlook; Emaar Sukuk Limited backed notes also affirmed.","social_image":{"id":"a2d83662-ac2a-48fb-a6d7-c27ae5100390","type":"media","url":"https:\/\/capital-wire.com\/storage\/media\/99b34c0c04ed19ad268c0c32a6d30d506e6c97eba3173626dfa8732242aec267.webp","mime":"image\/webp","srcset":"https:\/\/capital-wire.com\/storage\/media\/99b34c0c04ed19ad268c0c32a6d30d506e6c97eba3173626dfa8732242aec267-640.webp 640w, https:\/\/capital-wire.com\/storage\/media\/99b34c0c04ed19ad268c0c32a6d30d506e6c97eba3173626dfa8732242aec267.webp 800w","width":800,"height":450,"alt":"Moody's affirms Emaar Properties at Baa1 with stable outlook \u2014 DFM credit rating disclosure 24 Sep 2026","caption":"Emaar Properties Moody's Baa1 affirmation \u2014 DFM 24 September 2026","credit":"DFM disclosure \/ Emaar Properties PJSC \/ Capital Wire","license":"operator-supplied","ai_generated":false}},"secondary_category":null,"topics":[{"id":"2","type":"topic","key":"dfm","name":"DFM","slug":"dfm","summary":"Dubai Financial Market listings, filings, index moves, and exchange developments.","seo_title":"DFM Market News | Capital Wire","meta_description":"Coverage of Dubai Financial Market listings, corporate filings, index moves, and DFM exchange developments for market readers."},{"id":"9","type":"topic","key":"real-estate-cycle","name":"Real Estate Cycle","slug":"real-estate-cycle","summary":"Property sales, launches, land deals, and real-estate cycle coverage across UAE and GCC markets.","seo_title":"Real Estate Cycle | Capital Wire","meta_description":"Property sales, project launches, land deals, and real-estate cycle coverage across developers and markets in the UAE and GCC."}],"tags":[{"id":"33","type":"tag","key":"dfm-disclosure","name":"dfm-disclosure","slug":"dfm-disclosure"}],"gallery":[],"charts":[],"byline":{"mode":"desk","schema_type":"Organization","name":"Capital Wire","author":null},"citations":[{"id":"a2d83682-d042-4a89-a398-9fbf678df799","url":"https:\/\/www.dfm.ae\/the-exchange\/news-disclosures\/disclosures\/9f53a39c-08b9-45eb-9777-53753223dfff","publisher":"DFM Disclosures","title":"DFM disclosure \u2014 Emaar credit rating","source_published_at":null,"claim":null},{"id":"a2d83682-d206-4b8f-b2b6-1a748112c1ec","url":"https:\/\/feeds.dfm.ae\/documents\/2026\/Sep\/24\/9f53a39c-08b9-45eb-9777-53753223dfff\/Notification%20From%20The%20Company%20Regarding%20A%20Credit%20R.pdf","publisher":"feeds.dfm.ae","title":"DFM PDF \u2014 Credit Rating Disclosure Form","source_published_at":null,"claim":null}],"sources":[{"url":"https:\/\/www.dfm.ae\/the-exchange\/news-disclosures\/disclosures\/9f53a39c-08b9-45eb-9777-53753223dfff","source_id":"a2d6a04f-4281-4a86-99f6-c4f7abd81d81","label":"DFM disclosure \u2014 Emaar credit rating","publisher":"DFM Disclosures"},{"url":"https:\/\/feeds.dfm.ae\/documents\/2026\/Sep\/24\/9f53a39c-08b9-45eb-9777-53753223dfff\/Notification%20From%20The%20Company%20Regarding%20A%20Credit%20R.pdf","source_id":null,"label":"DFM PDF \u2014 Credit Rating Disclosure Form","publisher":"feeds.dfm.ae"}],"corrections":[],"translations":[{"language":"ar","slug":"emaar-moodys-baa1-affirmation-24-sep-2026","published_at":"2026-09-24T05:43:01+00:00","is_current":false},{"language":"en","slug":"emaar-moodys-baa1-affirmation-24-sep-2026","published_at":"2026-09-24T05:43:01+00:00","is_current":true}],"schema_type":"NewsArticle"},"meta":{"request_id":"387cf700-9d57-4f4f-91ec-97ce9d9c84f3","locale":"en"},"errors":[]}