Fitch Ratings maintained Taqa's long-term credit rating at AA with a stable outlook, citing the Abu Dhabi government's strong support and the utility's monopoly position in the emirate's energy and water sectors. The rating agency warned that planned acquisitions and capital spending could generate negative free cash flow of approximately $10 billion between 2026 and 2029, though Taqa holds $3.8 billion in liquid cash and can issue bonds to cover shortfalls.