Talaat Moustafa Group Holding (TMG) announced that its wholly owned subsidiary, the Arab Company for Projects and Urban Development — the Group’s primary operational arm locally and regionally — has received an upgraded local creditworthiness rating from A+ to AA-, alongside a revised Outlook from Positive to Stable, according to the latest update from Meris Middle East Credit Rating and Investor Services, the leading credit rating agency in the MENA region, Invest-Gate reports.