08.07.2009 - Negative rating of Dubai banks to lead asset quality deterioration
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