Fitch Ratings said it is withdrawing the ratings of Dubai Electricity and Water Authority (Dewa) in the next two weeks due to lack of information to assess the emirate.

Dewa's current ratings are: Long-term Issuer Default Rating (IDR) at 'BBB-'; Outlook Negative, Short-term IDR 'F3', senior unsecured rating 'BBB-', notes issued under the $3 billion GMTN Programme rated 'BBB-' and Dewa Funding Limited's Dh3.2bn Sukuk rated 'BBB-'.

Fitch's assessment of the ratings creditworthiness of Dubai's electricity and water utility has historically been a reflection of the agency's view on the creditworthiness of the sovereign, as a result of strong operational, legal and strategic linkages.

While information flow from Dewa is regular and comprehensive, Fitch has considered it necessary to form a judgement on view of Dubai to complete the information profile for the issuer, for which levels of information are expected to be insufficient going forward.-TradeArabia News Service