Tuesday 17 May 2016

Moody’s confirms ratings of five Abu Dhabi banks with negative outlook | GulfNews.com

Moody’s confirms ratings of five Abu Dhabi banks with negative outlook | GulfNews.com:

"Credit rating agency Moody’s yesterday confirmed the deposits ratings of five UAE banks National Bank of Abu Dhabi (NBAD), Abu Dhabi Commercial Bank (ADCB), Union National Bank PJSC (UNB), Al Hilal Bank (AHB) and Abu Dhabi Islamic Bank (ADIB).

These rating actions follows recent confirmation of the UAE Government rating. The current ratings of these banks are NBAD: Aa3, ADCB: A1, UNB: A1, Al Hilal Bank: A1 and ADIB: A2.

All five banks’ ratings have been placed on negative outlook. The action concludes Moody’s review for downgrade of five UAE banks’ ratings that was initiated in March this year."



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