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2/3/25, 8:25 AM Etihad Credit Insurance Achieves AA- Rating From Fitch Ratings - OneArabia
Etihad Credit Insurance Secures AA- Rating With Stable Outlook From Fitch Ratings

By OneArabia
Published: Thursday, January 30, 2025, 17:46 [GST] Etihad Credit Insurance (ECI), the UAE's Federal Export Credit company, has been awarded an Insurer Financial Strength (IFS) Rating of 'AA-' and a Long-Term
Issuer Default Rating (IDR) of 'AA-' by Fitch Ratings. These ratings come with Stable Outlooks and highlight ECI's significant role in promoting the UAE's economic diversification and enhancing its global trade leadership.

Abdullah bin Touq Al Marri, Minister of Economy and Chairman of ECI's Board, emphasised the UAE's economic strength under its wise leadership. The nation has adopted flexible policies that boost national product
competitiveness globally. These strategies have increased the non-oil sector's GDP contribution to 75%, fostering partnerships with regional and international markets.

The favourable rating from Fitch reflects confidence in the UAE economy, according to Bin Touq. He stated, "ECI’s favourable rating from Fitch ratings demonstrates the confidence of business communities in the national
economy, and promotes its reputation regionally and globally, thereby consolidating the country’s position as a leading hub for business and trade."

Several factors contributed to ECI's achievement, including strong government support as the federal export credit agency. Its capital strength and lack of financial constraints were crucial. Additionally, a robust reinsurance
programme and expertise in insuring foreign trade risks played vital roles.

Raja Al Mazrouei, CEO of ECI, highlighted that this rating is among the highest given by specialised agencies. It serves as a benchmark for ECI's financial performance and risk tolerance. She noted that "The AA-rating further
helps ECI provide its services and solutions more effectively worldwide, boosts national export competitiveness, and makes it easier for Emirati products to reach targeted global markets."

ECI's Role in National Economic Goals

Since its establishment, ECI has been pivotal in supporting the UAE economy and non-oil foreign trade. By facilitating local trade activities and providing tools against trade risks, it reduces financing costs. This enables access to
international markets while advancing national economic objectives through comprehensive services.

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