Commercial Bank of Dubai’s FCRs Affirmed with a Stable Outlook

Ref: AE00719 CRA00- 0 1 2 July 2020

Commercial Bank of Dubai’s FCRs Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign C urrency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Commercial Bank of Dubai (CBD) at ‘A-’ and ‘A2’, respectively. At the same time , CI Ratings has affirmed CBD’s Bank Standal one Rating (BSR) of ‘bbb’ , Core Financial Strength (CFS) rating of ‘bbb-’ , and Extraordinary Support Level (ESL) of High . The O utloo k for the LT FCR and BSR is Stable .

The Bank’s LT FCR is set two notches abo ve the BSR to reflect the high extraordinary support, which mitigates some wea knesses in its intrinsic credit worthiness. CI expects the Bank to continue to receive support from the UAE government (Sovereign Rating: ‘AA-’/‘A1+’/Stable) in case of need. The …