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Fitch reaffirms ECI’s ratings at 'AA-' with

stable outlook for 6th consecutive year

Story by Muhammad Aamir / Khoder Nashar

• 6d

DUBAI, 27th February, 2024 (WAM) -- Etihad Credit Insurance (ECI), the

UAE's federal export credit company, announced that it has obtained sustained
AA- Fitch Ratings for six consecutive years.

Fitch Ratings has reconfirmed ECI’s Insurer Financial Strength (IFS) rating and

Long-Term Issuer Default Rating (IDR) at ‘AA-’ (very strong) with Stable
Outlooks.

This prestigious recognition, from 2019 to date, highlights ECI’s unwavering

dedication to support UAE’s economic diversification and boosting the
international competitiveness of UAE-based businesses.

Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the Board of
Directors of Etihad Credit Insurance, said, "The positive rating from Fitch

reaffirms the UAE's efforts in diversifying the national economy and enhancing its
competitiveness regionally and globally. It also reflects the confidence of

international institutions, global rating agencies, and business communities in the
UAE as a leading economic destination."

He added, “This rating will strengthen the creditworthiness of Etihad Credit
Insurance, the strength of its financial position, and its role in enhancing the

reputation and competitiveness of national exports in foreign markets. This
success confirms our firm commitment to increasing economic diversification in

the country, supporting and encouraging exporters to deal with foreign markets
confidently and securely, thereby enhancing the achievement of the economic

targets of 'We the UAE 2031' vision. This vision aims to enhance the country's

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