Mashreqbank Among Seven U.A.E. Banks Downgraded at Fitch

Mashreqbank PSC, National Bank of Ras Al-Khaimah and Tamweel PJSC were among seven United Arab Emirates financial companies whose ratings were downgraded at Fitch Ratings today, citing reduced support from the country’s government.

The other companies whose ratings were cut include Bank of Sharjah, Commercial Bank of Dubai, Dubai Bank, Emirates Bank International.

Overnight report, blown away by mid-morning!