National Bank of Abu Dhabi upgraded by S&P on government link | Reuters:
"The main credit rating of National Bank of Abu Dhabi, the largest lender in the emirate, was upgraded one notch by Standard & Poor's on Thursday as the agency reclassified the bank as a government-related entity (GRE).
Standard & Poor's (S&P) moved the bank's long-term counter-party credit rating to AA- from A+. It said the upgrade was due to its new status as a GRE, saying it saw the bank as has having a "very important" role in the local economy.
GRE status is given to companies which are considered core components of the economy and which, if they ever got into financial difficulty, would be afforded all the resources needed to support them by the Abu Dhabi government."
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