Doha, Qatar – 23 March 2024: Fitch Ratings has upgraded Nakilat Inc. credit rating for Nakilat Senior Bonds by two notches from ‘A’ to 'AA-' with a Stable Outlook. Explaining the rationale for the upward revision, Fitch indicated that upgrade reflects improved Nakilat’s credit profile especially after the refinancing in March 2024 of bank debt that was due in 2025. All Nakilat Inc. debt will be paid in full within the firm charters period.