Moody's Investors Service has downgraded three Dubai-based banks, including the emirate's largest Emirates NBD, on concerns about problem loans.
The rating agency also put a fourth bank on watch for a possible downgrade owing to high levels of non-performing loans (NPLs).
Moody's lowered long-term ratings for Commercial Bank of Dubai and Emirates NBD to Baa1 from A3, Moody's said in a statement.
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