"The affirmation reflects our view that the $3.6 billion of assets that will be sold by MGEC to MidCap, payable in cash, will be sufficient to repay all of MGEC's outstanding debt and other liabilities before the company winds down all its activities.
"This rating action follows the decision earlier this year of General Electric Company's (GE; A1, stable) to downsize GECC, which originates and services most of MGEC's asset base, and the recent announcement regarding the sale of MGEC's assets to MidCap.
MGEC's loan portfolio consists primarily of corporate and real estate loans in the US and Europe.
Based in Abu Dhabi, MGEC is a 50/50 commercial finance joint venture between Mubadala Development Corporation and GE Capital.
The negative outlook captures the credit risks posed to MGEC by General
ratings affirmation reflects MGEC's strong credit profile and Moody's
As shown in Figure 1, the DPPH radical scavenging capacity was arranged in the following descending order: MGEB > MGE95 > MGE60 > MGW > MGEC
> MGEA (P < 0.05).
Fitch Ratings has affirmed Mubadala GE Capital Ltd's (MGEC
) Long- and Short-term Issuer Default Ratings (IDR) at 'A' and 'F1' respectively, and its senior unsecured long-term debt rating at 'A'.
MidCap FinCo Limited, in collaboration with different Apollo-handled funds and affiliates, declared it has inked a deal with Mubadala GE Capital to takeover entire MGEC
s loan portfolio of mainly corporate and real estate loans in the U.S.
: issuer rating of Baa2 stable, baseline credit assessment or BCA
Previously, Abdul Wahid was a senior advisor at Mubadala GE Capital PJSC (MGEC
), a finance company regulated by the UAE Central Bank, and set up jointly by Mubadala and GE Capital.
Moody's Investors Service has today affirmed the ba3 baseline credit assessment (BCA) and the Baa2 long-term issuer and senior unsecured ratings of Abu Dhabi-based Mubadala GE Capital Ltd (MGEC
), a joint venture (JV) between Mubadala Development Company PJSC (Mubadala; Aa2, Stable/Prime-1) and General Electric Capital Corporation(GECC; A1, stable).