Al Masraf – Ratings Affirmed with a Stable Outlook
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Summary
Ref: AE0032 3 CRA00-01 30 August 2024
Al Masraf – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Al Masraf at ‘A’ and ‘A1’, respectively . At the same time, CI Ratings has affirmed Al Masraf’s Bank Standalone Rating ( BSR) of ‘ bbb ’, Core Financial Strength ( CFS) rating of ‘ bbb -’ and Extraordinary Support Level (ESL) of High. The Outlook for the LT FCR and BSR is Stable.
The Bank’s LT FCR is set three notches above the BSR to reflect our assessment of the external extraordinary support available to the Bank from the UAE government (sovereign ratings:…