Moody's Ratings Affirms PNC Investment’s Ba3 CFR

Sukuk rating of the firm, which is the parent company of real estate giant Sobha Realty, upgraded to Ba2

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 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.