By: Zawya

The Gulf Cooperation Council Interconnection Authority (GCCIA) has achieved an "A" issuer credit rating with a stable outlook from S&P Global Ratings, a move that enhances its regional and international standing as a leader in energy security. 

This rating provides GCCIA with numerous advantages, including improved financing capabilities through easier access to loans on favorable terms, increased investor confidence by attracting more investments, and reduced financing costs by lowering interest rates on loans, thereby bolstering its institutional reputation globally.

S&P Global assigned this rating due to the vital role the authority plays for the GCC countries, effectively ensuring the security of electricity supply in the region since its operational launch in 2009. The agency also noted that member states consider the authority's role in supporting and maintaining energy security when developing their future plans.

GCCIA CEO Ahmed Al-Ebrahim stated that the credit rating obtained among the highest for companies operating in the Gulf region represents a significant milestone in enhancing the authority's position and increasing its regional and international impact. He emphasized that the authority has worked on developing its financial model to support expansion projects, noting that future funding will rely on financial institutions rather than member states.