Nuaimi, chief executive and general Manager of APICORP, said “Today's transaction is testimony to the confidence of the banking community in APICORP's financial stability despite what continues to be a risk-averse lending environment.” APICORP's strong credit position, A1 for long term and Prime 1 for short term, was recently reaffirmed by Moody's Investors Services' with a stable outlook. “APICORP's robust capitalization and strong liquidity profile is backed by strong and conservative banking fundamentals,” Al-Nuaimi added. APICORP plays a vital role in fostering the development of the Arab energy industry. Over the last 36 years, APICORP has invested as an equity owner in a total of 22 oil and gas joint venture projects worth in excess of $13 billion. At the same time, APICORP has participated in direct and syndicated energy finance transactions worth in excess of $130 billion. APICORP's aggregate commitments in these transactions, including both in equity and debt, are valued in excess of $11 billion.
