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Islamic Finance Briefing - Categorized | Banking, Performance more

Negative rating of Dubai banks to lead asset quality deterioration

Posted on 08 July 2009

From Globalarabnetwork.com: Standard & Poor’s Ratings Services said today that it has lowered its long- and short-term counterparty credit ratings on Dubai-based Emirates Bank International PJSC (EBI), National Bank of Dubai (NBD), and Mashreqbank to ‘A-/A-2′ from ‘A/A-1′.
We also lowered our long-term counterparty rating on Dubai Islamic Bank (DIB) to ‘BBB+’ from ‘A-’ and affirmed our ‘A-2′ short-term rating on the bank. The outlooks on all these ratings are negative……..Full Article: Source

 
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