TMG Holding's Arab Projects and Urban Development receives credit rating upgrade to AA- from MERIS
Updated 9/9/2025 9:33:00 AM
Arab Finance: Talaat Moustafa Group Holding (TMG) announced that its largest wholly owned subsidiary, the Arab Company for Projects and Urban Development, has received an upgrade in its local credit rating from A+ to AA-, with its outlook revised from positive to stable, as per a disclosure.
The update was issued by Meris Middle East Credit Rating and Investor Services (MERIS), a leading credit rating agency in the Middle East and North Africa.
The Arab Company is the group’s main operational arm, both locally and regionally.
According to the agency, the improved rating reflects a number of operational achievements, including strong sales in domestic and regional markets, a sizable backlog of contracted but undelivered sales, the development of new foreign currency revenue streams, and the successful entry into the North Coast market through the “South Med” project.
These factors have bolstered the company’s liquidity and enhanced its foreign currency cash flow.
The upgraded rating and outlook underline the group’s solid financial position and promising prospects, supported by a prudent management strategy and its ability to identify and capitalize on growth opportunities locally and across the region.
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