Mashreqbank – 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 Mashreqbank (MB) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed MB’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 remains Stable.

MB’s LT FCR is set three notches above the BSR to reflect the high likelihood of support from the government in case of need. The UAE government (sovereign ratings: ‘AA-’/‘A1+’/Stable) has demonstrated support in the past and is able and willing to continue to provide such support in the future.

The BSR is derived from a CFS rating of ‘bbb’ and an Operating Environment Risk Anchor (OPERA) of ‘bbb’. The CFS rating reflects the Bank’s good financial fundamentals, particularly its strong…