Page 53 - SOBHA REALTY PR REPORT - JULY 2024

7/22/24, 1:10 PM Moody's Ratings affirms PNC Investment’s (Sobha Realty) Ba3 CFR and upgrades its sukuk rating to Ba2; outlook stable | Web Rel…

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Moody’s Ratings Affirms PNC Investment’s (Sobha Realty) Ba3 CFR

And Upgrades Its Sukuk Rating To Ba2; Outlook Stable

By Editor_wr On Jul 22, 2024

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PNC Investments LLC (PNCI), the parent company of Dubai-based residential developer Sobha Realty, received an
affirmation of Ba3/stable corporate family rating (CFR) from Moody’s Ratings, an international rating agency.

Additionally, the agency has upgraded the senior unsecured rating of PNCI’s sukuk, issued by Sobha Sukuk Limited,
from Ba3/stable to Ba2/stable.

Being a renowned and trusted name in the real estate sector, Sobha Group has continuously delivered excellence in the

realm of luxury residential and commercial development, reflecting its unwavering commitment to quality, innovation
and customer satisfaction. The foremost backward integrated company known in the world with all the key

competencies and in-house resources to deliver a project from conceptualization to completion ensuring timely
delivery and unmatched quality. In the fast-paced real estate market of Dubai, Sobha Group is poised for unparalleled

achievement owing to its strong portfolio of landmark projects and steady expansion.

To read more please find the link to PRL: https://ratings.moodys.com/ratings-news/424962

https://web-release.com/moodys-ratings-affirms-pnc-investments-sobha-realty-ba3-cfr-and-upgrades-its-sukuk-rating-to-ba2-outlook-stable/ 1/1