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UAE: Fitch assigns Dubai Islamic Bank rating A with stable outlook

Posted on 02 February 2011

From Globalarabnetwork.com: Fitch Ratings has assigned Dubai Islamic Bank (DIB) a Long-term foreign currency Issuer Default Rating (IDR) of ‘A’ with a Stable Outlook, Short-term IDR of ‘F1′, Individual Rating of ‘C/D’ and Support Rating Floor of ‘A’. The bank’s Support Rating of ‘1′ has been affirmed, Global Arab Network reports according to a press statement.
DIB’s Long- and Short-term IDRs and Support Rating reflect the extremely high probability of support from the UAE authorities, if needed. Fitch’s opinion of likely support is based on the long history of support for banks in the UAE and DIB’s leading Islamic franchise and systemic importance as a major retail bank……………………………………….Full Article: Source

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