S&P: DIFC off watch

Standard & Poor's said it affirmed its B+ long-term and B short-term corporate credit ratings on DIFC Investments LLC.

At the same time, the agency said it removed the ratings from CreditWatch, where they were placed with negative implications on April 25. The outlook is stable.

The agency said the affirmation follows DIFC Investment's public announcement of a new $1.04 billion bank facility. Together with existing cash balances, the agency said it understands this facility should enable DIFC Investments to refinance all outstanding debt.

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