Page 299 - MOE ENGLISH PR REPORT - FEBRUARY 2024

3/4/24, 4:31 PM Fitch reaffirms ECI’s ratings at 'AA-' with stable outlook for 6th consecutive year | Emirates News Agency
9.5 billion as of the end of 2023 and covering 1.9 percent

out of AED 366 billion in 2022.

Supporting the AA- rating by Fitch, ECI has a strong

capitalisation with AED 250 million in paid-in capital, an

extra AED 750 million contributed by its shareholders for

growth objectives, and it doesn't have any debt.

ECI's investments are characterised by high liquidity and

prudent allocation to short-term fixed deposits in UAE-

based banks of high credit quality.

Etihad Credit Insurance remains committed to the UAE's

ambitious agenda to diversify its economy and boost its

stature on the global trade map. Through its innovative

suite of services, ECI is dedicated to empowering UAE

businesses to navigate the complexities of international

trade, secure competitive credit terms, and leverage

strategic partnerships worldwide.

Raja Al Mazrouei, CEO of ECI, commented, “The 'AA-'

rating, Fitch Ratings, for the sixth consecutive year, is

more than just an honour; it reflects ECI's stable

foundation, strategic objectives, and the significant role

we play in supporting the UAE's strategy for economic

progress. This grade underscores our commitment to

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